King to People [email protected] • 1 year agoThe wealthylemy.lolimagemessage-square53fedilinkarrow-up1675
arrow-up1675imageThe wealthylemy.lolKing to People [email protected] • 1 year agomessage-square53fedilink
minus-square@[email protected]linkfedilink2•1 year agoGreat explanation. I was surprised that the loan is paid back after the assets get the stepped up basis, and not at the original basis.
minus-square@[email protected]linkfedilink3•1 year agoYup, estate tax uses stepped up basis, and fed tax is taken out first, so every other debt will use the post-tax amount.
Great explanation.
I was surprised that the loan is paid back after the assets get the stepped up basis, and not at the original basis.
Yup, estate tax uses stepped up basis, and fed tax is taken out first, so every other debt will use the post-tax amount.