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| Topic | What's a fair income tax rate for people making >$300k? |
| Darkman124 11/13/17 1:15:12 PM #59: | emblem boy posted... I just thought of something about the estate tax. So I'm of the opinion it should be taxed since it's income. Right now though, is it only taxed (after the 5 million cutoff) that year it's inherited? Or does that tax apply every year? yes, the year it's inherited also all assets are treated as having a cost basis of the price at which they were inherited so if you bought apple stock at $10/share, then died after it reached $1000/share (equivalent), the person who inherits has a cost basis of 1000/share, not $10/share so if he then sells he can avoid ever paying tax on the stock. --- And when the hourglass has run out, eternity asks you about only one thing: whether you have lived in despair or not. ... Copied to Clipboard! |
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