> Rather, it will use the original cost basis, pay tax on gains up to the adjusted cost basis, and the inheritors will use the new cost basis should they sell in the future.
This is just incorrect, at least in the US. The estate does not have to pay capital gains tax for assets passing through to the inheritors.
It's a great policy proposal though - this is one fix for the problem!
This is just incorrect, at least in the US. The estate does not have to pay capital gains tax for assets passing through to the inheritors.
It's a great policy proposal though - this is one fix for the problem!