What is the tax benefit of stepped-up basis over 1031-ing into RE rental properties and a cheaper primary residence?
In California - obviously prop 13 if someone in the family plans to keep the house.
In California - obviously prop 13 if someone in the family plans to keep the house.
As for Proposition 13/58 inheritance, note that Proposition 19 (2020) restricted the inheritance benefit to only family homes and farms, so I don’t think inheritance is a widespread benefit anymore. Proposition 19 also made the property tax basis portable, so the increasing property tax is no longer an impediment to grandma moving.