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GRIP Annual Step Election Form Instructions Use this form to Step Up the Income Base associated with your Guaranteed Retirement Income Program (GRIPS) to match your contract anniversary value. You
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1307166 grip step up refers to a form used to report a step up in the basis of assets in order to minimize capital gains tax liability.
Individuals who have experienced a step up in the basis of their assets may be required to file Form 1307166 to report this change.
Form 1307166 should be filled out by providing the necessary information regarding the step up in asset basis and any other required details as instructed on the form.
The purpose of filing Form 1307166 is to inform the tax authorities about the step up in asset basis in order to adjust the capital gains tax liability.
Form 1307166 may require information such as details of the assets with increased basis, the amount of the basis increase, and any other relevant details.
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