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Stepped up basis... again
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Big Ben
Posted 1/11/2021 23:00 (#8744009 - in reply to #8743994)
Subject: RE: Stepped up basis... agai


Columbia Basin, Ephrata, WA
Kooiker - 1/11/2021 20:48

Big Ben - 1/11/2021 22:38 Why should death be a tax trigger? Seems a little arbitrary, some people live a lot longer than others. Maybe taxes should be due every decade. Maybe they should be due every year. Oh wait, they already are. So why are we taxing again at death?



I'm not asking if death should trigger a tax.


I'm asking why should the land get "stepped up basis" after death but not before?






I’d rather see basis stepped up annually, or never. It would be best to do away with the concept of basis; neither capital gains or inheritances should be taxed. Redepreciating something just because someone died can go away too.



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