PRESIDENT GEORGE W. BUSH Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : PRESIDENT GEORGE W. BUSH

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Ish who wrote (49976)	10/20/2000 5:52:09 PM
From: donjuan_demarco	Read Replies (1) of 769667

Nope. Not even close. "And in many of the estates, capital assets are sold and the monies divided. The estate pays income tax just as if the person is still living." If the estate sells capital assets, its basis is the fair market value of the assets on the date of death, so it would have little or no income tax to pay ( Example: X buys MSFT for split adjusted $10, it is worth $60 on his date of death, estate sells for $62. The estate has a capital gain of $2. "Then pays the death tax. Double taxation. Really big money puts all the assets in living trusts and pay no taxes." In most areas of the country you can have a living trust prepared for under $1,000 (hardly "really big money"). However, a living trust cannot save you so much as a penny of taxes. All it can do is assist in avoiding probate.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next