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| first off if you paid 1mil for the property and it is worth 5 mill at sale or death you only have 4 mil in capital gains so you take the 3.5 mil off that and you or your heirs will pay on 500K but both the husband and wife are entitled to the 3.5 Mil exemption so the reality is that 1 mil could go to 8 mil and still be tax free and that is without any planning what so ever.
Edited by FlatlandAgII 1/11/2021 18:15
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Stepped up basis... again
