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Pastimes : THE SLIGHTLY MODERATED BOXING RING

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To: The Philosopher who wrote (14293)	6/6/2002 6:46:36 PM
From: jttmab	Read Replies (1) of 21057

The tax basis would be attached to the asset received. Nothing more required than now. I think you meant to say 'cost basis' rather than 'tax basis'. Why would the cost basis transfer? It wasn't a cost that was born by the individual receiving the asset. It becomes a records issue. If the assets and cost basis were transferred to the individual then they become responsible for records that were never issued to them and had no prior responsibility in maintaining. You say That wouldn't change. Are you referring to a hypothetical proposal, or are you saying that in the current legislation that the cost basis does in fact transfer to the person inheriting the asset. Enough that Congress keeps trying to solve what they accept is a problem, but can't bring themselves to really solve it. I would have been stunned had you really been able to answer that question. I don't believe that any one knows. It's not a recorded item. You started off saying it's 'common', but there's no proof of that. And it's not a proof that because Congress keeps trying to solve it, that it is 'enough of a problem'. That's a purely speculative conclusion. jttmab

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