2010: Cheapest Year to Die?

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There is no "capital gains tax". What there is in 2010 is no "step up" in income tax basis on capital assets, such as real estate and stocks, on a death beyond $1,300,000. There is an additional step up on the property going to a spouse. The tax, income tax, on any inherent capital gain beyond the step up is only triggered if the asset in sold in a taxable transaction.

Kevin Staker

Kevin Staker of CA 3:10PM March 17, 2010

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