EPISODE · May 4, 2022 · 36 MIN
Should death eliminate taxes? A conversation about carryover basis with Kathleen Thomas
from Tax Chats · host Dyreng and Hoopes
Send us Fan MailScott and Jeff discuss the idea of carryover basis with Kathleen Thomas. Currently, when someone dies with appreciated capital gains, they get a step-up in basis, meaning their estate pays no taxes on their accumulated gains. The downside is they have to die. An alternative would be to carryover the basis the the person who died had, which would make many tax planning strategies more difficult.
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Should death eliminate taxes? A conversation about carryover basis with Kathleen Thomas
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