Now that the Democratic party has taken control of the White House and both chambers of Congress, there may be new legislation passed that impacts the way inheritances are taxed. We will provide some insight in this post. Elimination of Stepped-Up Basis Let’s say that your rich uncle passes away, and he leaves you a thousand shares of stock. The stock is worth $100 a share, but he bought it years ago when it was valued at $10 a share. Your uncle paid $10,000 for the stock, and it grew in … [Read more...] about Dem Control Could Impact Taxes on Inheritances