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A comment on California is chasing wealth that has feet. Parent comment

Re:California is chasing wealth that has feet by binlog on Thursday September 24, 2026 @08:34PM (#49838710)
They aren't going to sell it, they'll pass it to their children and the cost basis will reset. Their children will then sell it and pay zero tax.
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Re:California is chasing wealth that has feet by gehsty on Friday September 25, 2026 @04:53AM (#49841868)
Then it would be taxed under inheritance tax (at the full value of the property - not just the gains).

Edit - I’m wrong, I am uk based - just read up on US, wild that you can inherit a house that’s gone up in value massively then sell it and experience no gains or inheritance tax.

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