Posted 1/29/2026 11:18 (#11531468 - in reply to #11531418) Subject: RE: Generational Wealth - again - sort of
My understanding is the value of the gift at the moment. If you gifted land of $19k, there isn’t a step up in basis. Step up occurs if it is passed at death. The basis of the gift is your basis and the land is valued at current valued price based on an appraisal or substantive defendable valuation.
I am not a licensed CPA or such. Only a poor working knowledge of said things.
Generational Wealth - again - sort of
