Fresh start adjustment

Definition of Fresh start adjustment

For persons dying after 1976, normally the decedent’s income tax basis in property will carry over to the estate of heirs. The "fresh start” adjustment, however, permits an addition to basis for the appreciation attributable to the period from the date the property was acquired by the decedent to December 31, 1976. The "fresh start” adjustment is only allowed for purposes of determining income tax gain on the later disposition of the property by the estate or heirs. I.R.C. § 1023.

That's the definition of Fresh start adjustment in Black's Law Dictionary 6th Edition. Courtesy of