IN555 - 8/20/2024 14:39
So if you had been getting paid all along instead wouldn’t you have had to pay income tax on it? So according to your story you are already benefiting from a deferred tax that would also be taxed at a reduced rate. Sounds like a hell of a win versus the guy earning a paycheck
you can't really call it a deferred tax when the income (pay for helping your parents pay the farm off) was deferred for 40 or 50 years | 
Elimination of stepped up basis
