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Step Up To The BEST for LESS! Up to $100 Mailing Rebate Lesser's Appliance & Electronics with the purchase of a qualifying 6 EAST MAIN STREET BABYLON NY 11702 GE or GE Profile Energy Star Top Load
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Step up to form is a tax form used to report an increase in the value of assets inherited from a deceased person.
The beneficiaries who inherit assets from a deceased person are required to file step up to form.
Step up to form can be filled out by providing details of the inherited assets, their original value, and the new stepped-up value.
The purpose of step up to form is to establish a new cost basis for inherited assets, which can help beneficiaries minimize capital gains taxes when they sell the assets.
Information such as the date of inheritance, original cost of assets, fair market value at the time of inheritance, and the new stepped-up value must be reported on the step up to form.
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