E135 What Does Stepped Up Basis Mean?
Does the IRS ever give us a break? Yes!
Stepped-up basis is a great example. So make sure you know about it and how to use it!
I’ll explain “stepped-up basis” in 3 steps:
- What are capital gains
- What is Basis
- Why stepped-up basis is the HUGE tax break IRS gives us
And lastly, I’ll tell you the BIG mistake DIY “estate planners” make that can cost them tens, even hundreds of thousands in taxes
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