Could anyone provide examples of step-ups in basis and the tax consequences

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May 27, 2019

by a searcher from University of Virginia-Darden - Darden School of Business in Richmond, VA, USA

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Reply by a professional
from Walsh College of Accountancy and Business Administration in Detroit, MI, USA
Send me an email at redacted and lets connect over a phone call on exactly what your looking for. There are many ways to obtain a step-up in the tax basis of assets but not all transactions will result in a tax basis step-up. For GAAP purposes, you will almost always step-up the assets to fair market value if you have control after the acquisition.
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