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I guess stepped up basis is considered a loophole
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ruralHusker
Posted 6/30/2020 09:34 (#8345000 - in reply to #8344635)
Subject: RE: I guess stepped up basis is considered a loophole


West of Lincoln a little bit
I don't see anything in there saying the spouse would have to pay taxes on it, just heirs (like kids). aren't spouses considered to jointly own a lot of that stuff anyway?

However, if that's the case, wouldn't it be best just to add the spouses name to any assets you don't want them paying taxes on? We already own equipment and land jointly, but I know others don't, for various reasons.
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