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Elimination of stepped up basis
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Northforkfarm
Posted 8/20/2024 15:36 (#10859213 - in reply to #10859161)
Subject: RE: Elimination of stepped up basis


Springfield, OH
2 full time jobs - 8/20/2024 14:46

Or he worked for nearly free to help the farm his parents made money and bought land and his reward was to be the one that got to inherit the land but now he will get to buy it back from the goverment.


So his parents built equity from his labor while dangling the carrot of one day you’ll inherit this. Maybe the answer is he got paid what his time was worth, bought his own land, and built his own equity.
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