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> This is a massive tax break for the wealthy. Do you have a reference for this? Any sort of gift or inheritance transfers the cost basis as far as I know.
by temp2441139 10mo ago
> This is a massive tax break for the wealthy.
Do you have a reference for this?
Any sort of gift or inheritance transfers the cost basis as far as I know.
- jmyeet 10mo agoUm, I don't know what information you're getting but this is easily Googleable eg [1]: > The tax basis of property acquired by a beneficiary from someone who dies is ordinarily the property's fair market value at the date of the decedent's death. [1]: https://www.fidelity.com/learning-center/personal-finance/what-is-step-up-in-basis https://www.fidelity.com/learning-center/personal-finance/wh...