At the end of the day its really going to impact deemed dispositions upon death the most that you can't exactly tax plan for death. I mean you can - gift away early, but that's about it.
Massive gains on real estate could also get impacted as well. Think Vancouver and Toronto long term rental holds that have appreciated by millions over the past 2 decades. Flippers still may skirt under the $250K on a year-by-year basis depending on how long they are holding for.
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