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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Brian Sullivan who wrote (5562)	2/22/2018 2:39:02 AM
From: Brian Sullivan	Respond to of 26638

Looks like it does work for Real Estate, and I might have been wrong about option 1 (keeping the original cost basis). Too bad we have to actually die to use this tax break. I guess you could fake your death and move overseas forever and it might work, assuming you could trust the person who would inherit everything. Here is a good article on this: thebalance.com

To: Brian Sullivan who wrote (5562)	2/22/2018 10:38:41 AM
From: Kirk ©	Respond to of 26638

I believe the answer is still yes. So if you have kids, it pays to do whatever you can to keep the house, perhaps with a reverse mortgage, so they can sell it after you die and not pay capital gains. It does count against your estate which at one point in time was a big issue when the tax started with income over $1M.