The Inheritance That Went Backward: They Gave Mom the Stock They’d Someday Inherit and Eighteen Months Later It Came Back With Thirty Years of Capital Gains Wiped Off the Books
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The post The Inheritance That Went Backward: They Gave Mom the Stock They’d Someday Inherit and Eighteen Months Later It Came Back With Thirty Years of Capital Gains Wiped Off the Books appeared first on 24/7 Wall St..
If you own a stock you bought decades ago and refuse to sell because the capital gains tax would eat you alive, there is a provision buried in the tax code that can erase those gains entirely. It is called the stepped-up basis rule, and it resets an asset to fair market valu
If you own a stock you bought decades ago and refuse to sell because the capital gains tax would eat you alive, there is a provision buried in the tax code that can erase those gains entirely. It is called the stepped-up basis rule, and it resets an asset to fair market valu
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