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A comment on ProPublica's tax story. Parent comment
You still pay the estate tax (40%), even with the stepped up gains.
Biden's plan is to pay income tax on the gains, and then the estate tax on the rest. Or vice versa, the news reporting on this has been deficient.
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You still pay the estate tax (40%), even with the stepped up gains.
Biden's plan is to pay income tax on the gains, and then the estate tax on the rest. Or vice versa, the news reporting on this has been deficient.