ilmscore | Prediction Details
"your children are buying the house at the price that they get it at so if the property is worth $50 million you die and then you give it to your kids your kids are essentially buying this property with a basis of $50 million so if they sold it for $50 million they have a $ Z taxable income"
By Minority Mindset | September 27, 2024 | Pending
From video
7 Tax Loopholes Only Rich People Understand 00:13:25 - 00:13:41
Interpreted Prediction
Upon death, inherited property receives a stepped-up basis to its fair market value, meaning heirs can sell it for that value with no immediate capital gains tax.

Prediction Details

Topic
Stepped-Up Basis for Heirs

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