Step-up after step-up
My father owned stock. It was given me upon his death in 2013. I am familiar with step-up basis and how it works. At that time, the stock was stepped-up in basis. I have kept this stock in a different account, because the brokerage firm said it cannot be stepped up again when I pass away. According to them, a step-up can only occur once for a stock and my heirs will have already received the step-up benefit from the 2013 step-up. In 2022, I was told this is incorrect and when I die, it can be stepped up again. I tried searching online for clarification, but can find nothing that talks about stepping up a stock that has already been stepped up. So it appears that when I die, this stock can be stepped up again. Would someone be kind enough to clarify this?
