The Soapbox

Stimp

Joined: 10/15/1998 Posts: 2176
Likes: 1999


It’s ~ $11 million, reverting back to ~ $5.5 million in 2025


Yes, I think all assets should transfer to heirs along with cost basis. This eliminates step-up, which I find particularly stupid that a latent tax obligation can go poof because one dies.

Lest you think these assets never get sold, there are several studies about that indicate 50% of inherited “generational wealth”...the big stuff...goes poof in two generations; over 80% in three generations.

I support being true to the notion of taxing gains when realized. It also takes care of all the complexity and odd provisions at death, even for the Gates spawn.

(In response to this post by 81_Hokie)

Posted: 08/14/2020 at 3:56PM



+1

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Current Thread:
  Like any tax, a small one becomes overwhelming -- MasterRusty 08/14/2020 3:10PM
  The answer is: turn the tax code into a pamphlet. -- hoolstoptheheels 08/14/2020 1:59PM
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  Irrelevant with our current president. -- hoolstoptheheels 08/14/2020 3:49PM
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