Re:Inheriting is becoming nearly as important as working
by AutistiCoder on Saturday March 01, 2025 @12:20PM
(#43221407)
you could create an exception: if you have <= $1M in unrealized capital gains, those assets are not subject to unrealized gains tax.
Re:Inheriting is becoming nearly as important as working
by saalweachter on Saturday March 01, 2025 @01:59PM
(#43222430)
Eh, an exception for a primary home is common throughout the tax codes and the like. Just saying you realize capital gains on an asset used to secure a loan (unless it's a primary residence) would cover that without being out of step with everything else.
Sure, a billionaire could then use their $143M estate as collateral on a loan to avoid realizing the capital gains, loophole, but since you can only have one primary home, it's a very limited loophole.
The problem is that people will always probe the tax code for loopholes that weren't considered. It's a cat and mouse game, except the cat is fat and lazy, and gets paid by the mouse.