3 ms·
The biggest problem IMO with capital-gains step-up, is knowing the cost basis of the asset. If my uncle dies and leaves me his house, and he owned it outright,
by paul_f 5y ago
The biggest problem IMO with capital-gains step-up, is knowing the cost basis of the asset. If my uncle dies and leaves me his house, and he owned it outright, how do I know what he paid for it? It would put an impossible burden on heirs.
- ISL 5y agoIn that specific case, real-estate transactions often have sale prices in the public record.