IRS Step-Up Appraisal Requests in Salt Lake City
Salt Lake City property preparation
Is our step-up basis the January 1 assessed value?
The January 1 figure belongs to the county's property-tax assessment. It is not automatically the basis for inherited property. The general section 1014 date and any applicable section 2032 election must be determined for the estate. If a renovation falls between those dates, separate the actual work and condition at each requested date.
The tax date is not the county assessment date
26 U.S.C. §1014(a): subject to its exceptions, inherited-property basis is generally fair market value at death, or the applicable alternate date when an election under §2032 applies. The IRS inherited-property FAQ explains that the general death-date rule can apply whether or not the executor files Form 706. These provisions do not impose an appraisal on every inheritance. The adviser must determine the actual property's basis rules and exceptions.
26 U.S.C. §2032(a), (c) and (d): an executor's alternate-valuation election must reduce both the gross-estate value and the applicable estate/GST tax after credits. Retained property generally uses the six-month date; property disposed of within that period generally uses its disposition date, with special rules for time-dependent interests. The election is made on the estate-tax return and is irrevocable. The current Form 706 instructions, Part III, line 1, explain the election. An heir cannot simply choose a later date or apply it to one selected asset.
Official source text checked October 5, 2026. Federal Code links identify the 2023 published edition and are read alongside current IRS guidance. This explanation does not determine legal or tax treatment for an individual matter.
County assessment
Salt Lake County Assessor explains that its residential assessments are for property tax and use January 1 as the effective date. Note the assessment year before comparing it with your requested date.
Limit: That tax purpose and date may differ from the estate, divorce or other decision your report must support.
City permit and zoning records
Salt Lake City links to zoning information and its permit and land-management portal. For additions or changes of use, include records you already have and identify the permitting municipality.
Limit: A permit entry is not proof of completion, legal occupancy or added market value. Properties in another municipality need that jurisdiction's records.
Salt Lake City Avenues historic-district description, checked October 5, 2026, is a starting point for context. Check the parcel itself; the area description does not determine its value.
Bring or describe
- The adviser's date and reporting instructions.
- The assessment year, parcel number and recorded description.
- Photos and renovation records on either side of the requested date.
Public source pages checked . This guide explains records to assemble; no individual property, ownership or valuation was researched.
Discuss this property and purposeDefine the scope
An inherited-property question, estate return, gift and charitable contribution can need different reporting instructions. Send the actual use and requested date rather than treating them as interchangeable.
Compare the related purposes
If the personal representative is also preparing an estate inventory, read Probate Valuations to keep the inventory purpose separate from tax-basis instructions.
If heirs need a value for a proposed transfer or beneficiary discussion, read Estate Appraisals to identify that intended use rather than assume the tax scope covers it.
After you send the inquiry
A reply confirms the property, intended use, effective date and intended users. Fee, scope and delivery date are agreed before work starts. The report goes to the client named in the engagement. An acknowledgement alone does not establish an accepted assignment.
Questions about this request
What should the tax adviser specify for an inherited-property basis request?
Identify the property interest, effective date, intended use and reporting instructions. The requested purpose alone does not determine whether an appraisal is needed or which documentation will be accepted.
What does the quote need to cover?
The actual property, date, research and inspection scope, report recipients and their written instructions.