ilmscore | Prediction Details
"when you die your estate gives this property either one to your heirs your kids Now happens is your kid is going to get this property and the government is going to say that your kid got the property they bought it for $5 million so if your kid went out and they sold this property today for $5 million after you die they will get this $5 million of cash and they don't have to pay any taxes on this money because to the government it looks like they bought the property for $5 million this concept is called stepped up basis"
By Minority Mindset | April 2, 2024 | Pending
From video
MASTERCLASS: Buy These 5 FOREVER INVESTMENTS To Be Financially Free 00:09:23 - 00:10:02
Interpreted Prediction
Upon death, heirs receive a 'stepped-up basis' for inherited real estate, meaning the property's cost basis for tax purposes is its market value at the time of inheritance, potentially eliminating capital gains tax if sold immediately.

Prediction Details

Topic
Real Estate Stepped-Up Basis

Comments

0 comments

Be the first to share your thoughts.

Like this prediction?

Join to make your opinion count.