Basis when inheriting spouse is a resident alien

in NY state.  Husband dies.  Does wife get a step up in basis of inherited stocks

Sorry. Yes, if death was in 2011. Yes, if the death was in 2010 and you elect to pay estate tax. If in 2010 and you don't elect to pay estate tax, you can step-up the stock if the total amount of step-up in your assets is $1.3 million.

in NY state. Husband dies. Does wife get a step up in basis of inherited stocks for income tax purposes?

Generally, a green-card holder is treated the same as a US citizen for tax purposes, so yes.

-Mark B.

Thank you for the reply. Since date of death seems to be a factor, what if the situation is the same but husband's death occurred in 2000? Would surviving green-card wife get a step-up when inheriting deceased citizen husband's stocks? There were/would have been no estate taxes due because estate wasn't large enough to incur them, regardless of who the inheritor was.

in NY state. Husband dies. Does wife get a step up in basis of inherited stocks

Sorry. Yes, if death was in 2011. Yes, if the death was in 2010 and you elect to pay estate tax. If in 2010 and you don't elect to pay estate tax, you can step-up the stock if the total amount of step-up in your assets is $1.3 million.

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the situation is the same but husband's death occurred in 2000?  Would

husband's stocks? There were/would have been no estate taxes due because

Correct, in all years besides 2010 you had to pay estate tax. In 2000 the estate exemption was 675k and in 2010/2011/2012 it is 5M according to this: