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I guess stepped up basis is considered a loophole
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farmerkev
Posted 6/30/2020 08:33 (#8344870 - in reply to #8344857)
Subject: RE: I guess stepped up basis is considered a loophole


s/ecil

Farmland purchased in 1980 for $3000 is selling for 9-10 today.
$3000 in 1980 = $9334 today in 2020 dollars per inflation calculators.
You mistakenly say there has been $6334 of cap gain but there hasn't been.
Inflation is the reason for step up in basis. 

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