GeoPulse : Learn how to take control of your money with smart personal finance strategies, simple investing tips, and daily money hacks. In this video, we break down today’s financial news and give you practical steps to grow wealth, save smarter, and invest wisely.
🌍 Covering the latest from the U.S. economy, stock market updates, and financial trends that matter for everyday people worldwide. Perfect for anyone looking to build wealth, understand money, and make smarter financial decisions.
💰 Topics we cover: • Personal finance & budgeting • Stock market & investing • Real estate & housing market • Credit cards & saving tips • Money mindset & wealth building
👉 Subscribe for more daily finance videos and updates.
00:00And the basic rules are that whatever it was worth on the date of death is what it's worth to you.
00:08Okay.
00:09And more technical than you ever want to hear from me, but that's what's going to be called the basis.
00:14So you get what's called a step up in basis because it goes from whatever the other person bought to you.
00:21And so this could be Apple stock that they bought for $1 and now you've got it and it's $1,000.
00:26And so all of that capital gain is tax free.
00:30Which is great.
00:31And you get your basis is whatever the value of it is when you inherited it.
00:39And that is true for stocks, but it's also true for real estate too.
00:43So if you inherit a house, whatever the house is worth, when you inherit it is what is going to matter when you go ahead and sell it or if you go ahead and sell.
Be the first to comment