No step up in basis, but if the child makes under $47k ($48k in 2025) in 2024, they are not subject to a capital gains tax so even if there is a capital gain from the sale, it is taxed at 0%.
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No step up in basis, but if the child makes under $47k ($48k in 2025) in 2024, they are not subject to a capital gains tax so even if there is a capital gain from the sale, it is taxed at 0%.