Some assets are excluded, such as;
	Property acquired by a decedent by a gift from a non-spouse less than 3 years before death are excluded to prevent “gifts” of low basis assets in anticipation of stepped-up bequests.
	This rule does not apply to gifts from your spouse.
	Additionally, there is no step up for property that constitutes a right to receive Income in Respect of Decedent such as Annuities, IRA’s, or Qualified Plan Assets.