Quote:
Originally Posted by Shazam
I just knew somebody would chime in about the cap gains rate. I'm sorry for not explicitly stating it. Because holy crap I guess I should put in every ####ing qualifier when it comes to tax rates.
The point being, there is no special treatment to the assets because someone died. It's a deemed disposition.
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Sorry, I'm not following your posts.
Upon a parent's death, the deemed dispositions are taxed like you say, on the parent's final tax return upon death (geez, morbid).
Why should the beneficiary have to pay an additional wealth or inheritance tax on top of it? It's already being taxed once.
Hence my question - why would we do this? Other than to pay for ballooning deficits I supposed.
All the more reason for the boomers to gift money now rather than later.