Biden’s Scary Death & Wealth Tax Plans

The President’s budget floats the repeal step up in basis on death. On death, instead of the tax basis going up to market value, an income tax would be triggered. When the estate transfers the house to a child, that would be a sale for tax purposes.

Biden’s Scary Death & Wealth Tax Plans
The President’s budget floats the repeal step up in basis on death. On death, instead of the tax basis going up to market value, an income tax would be triggered. When the estate transfers the house to a child, that would be a sale for tax purposes.

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