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At some point such loans will have to be paid back and tax will be paid. Alternatively, we could require that the capital gains on an asset used to collateraliz
by haneefmubarak 3y ago
At some point such loans will have to be paid back and tax will be paid. Alternatively, we could require that the capital gains on an asset used to collateralize a loan be taxed at that point.
- monocasa 3y agoUnless you just don't, carry them across death when the basis is reset and pay them then.
- alach11 3y agoIs there any good reason to not eliminate step-up basis on death?
- morsch 3y agoFwiw, I don't think this basis step-up thing is a thing in German tax/inheritance law.
- megaman821 3y agoApparently no one can afford the tax bill on an inherited farm, and it looks terrible forcing family farms to sell their land to a large conglomerate.
- notyofriend 3y agoHow many of those are really left anyway but yeah the pr is bad
- alach11 3y agoIt still doesn't make sense to me. If I inherit a farm or other asset, I don't owe capital gains until I sell it right? If the basis remained the same, it's not like I suffer in any way upon inheritance.
- megaman821 3y agoI am not a tax expert, but I am pretty sure a change of ownership (minus the exempt amount) is a taxable event.