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Politics : PRESIDENT GEORGE W. BUSH
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To: donjuan_demarco who wrote (49979)10/20/2000 6:11:22 PM
From: Ish  Read Replies (1) of 769667
 
<<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.>>

Wrong. X buys MSFT for split adjusted $10, it is worth $60 on his date of death, estate sells for $62. The executor files an income tax 1040 and the dead Mr. X pays taxes out of his estate on the $52 gain. Then the cash left is taxed again before disbursement.
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