Posted 6/30/2020 08:20 (#8344840 - in reply to #8344837) Subject: RE: I guess stepped up basis is considered a loophole
You have little idea on how taxes are structured with that statement.
Edit: You buy a $1,000 capital asset. You were taxed a single time on the income to purchase that asset. Inflation causes that asset to appreciate to $2000. Currently no tax is owed upon death. Even if sold before death you would only be taxed on the $1000 gain. Where are you coming up with a double or triple tax?