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A comment on Sports Owners Use Their Teams to Avoid Millions in Taxes. Parent comment

Re:Sports Owners Use Their Teams to Avoid Millions in Taxes by kristjansson on Thursday July 08, 2021 @12:10PM (#27773922)
Ah, the best of all tax loopholes, _death_
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Re:Sports Owners Use Their Teams to Avoid Millions in Taxes by jcheng on Thursday July 08, 2021 @01:07PM (#27774885)
It really is a tax loophole though--for capital gains, the basis is reset upon transferring to your heirs.

https://www.investopedia.com/terms/s/stepupinbasis.asp https://www.peoplestaxpage.org/buy-borrow-die

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Re:Sports Owners Use Their Teams to Avoid Millions in Taxes by kristjansson on Thursday July 08, 2021 @01:39PM (#27775345)
Yes, the joke being that it's sort of hard to personally recognize the benefits of the loophole.

Basis step up should be eliminated though. I can't see any economic justification for it.

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