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Topic	Politics Containment Topic 379: Kabulshit
red sox 777 10/27/21 5:21:28 PM #479:	LordoftheMorons posted... Another good tax change that was in the bill earlier but got killed was eliminating stepped up basis (basically, if I buy a stock for $10 and sell it at $100, Im taxed on $90. If I die when its at $60, however, the basis is stepped up from $10 to $60 for my heirs and when they sell it at $100 they only owe taxes on $40). I think part of the reason it got killed was that the Dems got greedy and also wanted death to be a realization event rather than just killing stepped up basis. Doesn't estate tax take care of that? Death is already a realization event. Like, your heirs are already paying 40% tax on the value inherited above the exclusion amount, so when they get it at $100 they have to pay $40 in estate tax. --- September 1, 2003; November 4, 2007; September 2, 2013 Congratulations to DP Oblivion in the Guru Contest! <cite>red sox 777 posted [p:959447097] in Politics C... [t:79667835]...</cite> <quote>LordoftheMorons posted... </cite> <quote>Another good tax change that was in the bill earlier but got killed was eliminating stepped up basis (basically, if I buy a stock for $10 and sell it at $100, Im taxed on $90. If I die when its at $60, however, the basis is stepped up from $10 to $60 for my heirs and when they sell it at $100 they only owe taxes on $40). I think part of the reason it got killed was that the Dems got greedy and also wanted death to be a realization event rather than just killing stepped up basis.</quote> Doesn't estate tax take care of that? Death is already a realization event. Like, your heirs are already paying 40% tax on the value inherited above the exclusion amount, so when they get it at $100 they have to pay $40 in estate tax. --- September 1, 2003; November 4, 2007; September 2, 2013 Congratulations to DP Oblivion in the Guru Contest!</quote> ... Copied to Clipboard!
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