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Pro-tip, the step up basis happens after the estate tax, which is much higher than the capital gains tax, and only applies to the top 1%
by johngladtj 2y ago
Pro-tip, the step up basis happens after the estate tax, which is much higher than the capital gains tax, and only applies to the top 1%
- wmf 2y agoThat's what I would assume, but it still seems like loans should be paid back first (which may trigger selling assets which would trigger capital gains tax), then estate tax should be levied on anything left, then step-up in basis. If if works this way, there's no loophole.