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Strategies & Market Trends : Capital Gains
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To: handyman who wrote (7)3/30/2021 1:43:05 PM
From: NAG1  Read Replies (1) of 11
 
handyman,

Those of us sitting on long term capital gains are going to have to watch very closely the plans being discusses to change the favored rules for long term gains which could be doubled should they choose to make them ordinary income. There also could be a big decision if they choose to change the rules for inheritance being able to use market value at time of death as basis for sales of stock by heirs.

Those two are huge changes that will devastate investors and those leaving stock to heirs.
I don't think it will be devastating but it will mean heirs will probably get a lot less money unless people do some good tax planning. I prepaid a lot of taxes last year, selling a lot of stock secondary to COVID and pending retirement this year and still have a fair amount to pay now. But, I would rather have the gains and have to pay the taxes than have losses. And nothing has happened yet so I believe there will be time to plan things out. Maybe sell some stuff at the lower rate and buy back in with the remainder after taxes.
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