Stepping Out with 754 Step-Ups

The 754 step-up is notoriously complicated, and it’s easy to overlook the inherent cost seg potential while dealing with all the moving parts.  Consider this episode your official reminder that the new basis and service date seen in a step-up may tee up an excellent cost seg opportunity.  Capstan Partner Bruce Johnson walks us through the details, shares a few caveats, and allows Helena to finally share her original work, “Lucy and Ethel Buy a Chocolate Factory: A Section 754 Story.”