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  2. Do I Pay Taxes Automatically If I Inherit Property? - AOL

    www.aol.com/finance/capital-gains-inherited...

    Capital Gains Are Taxed on a Stepped-Up Basis. When you inherit property, whether real estate, securities or almost anything else, the IRS applies what is known as a stepped-up basis to that asset ...

  3. Estate tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Estate_tax_in_the_United...

    The descriptive "death tax" emphasizes that death is the event that invokes a tax on the deceased's former assets. An estate tax is levied on the deceased's assets before they are distributed by the federal government and twelve states; Connecticut, Hawaii, Illinois, Maine, Maryland, Massachusetts, Minnesota, New York, Oregon, Rhode Island ...

  4. IRS Changes Could Rewrite Your Inheritance Strategy: What to Know

    www.aol.com/finance/want-leave-assets-heirs-irs...

    For example, if you purchased stock for $100,000 more than a year ago and sold it now for $250,000, you would pay capital gains tax on the $150,000 profit above the original basis of $100,000.

  5. Inheritance Tax: What Happens When You Split What You ... - AOL

    www.aol.com/inheritance-tax-happens-split...

    Few estates meet the requirements for the estate tax. In 2018, less than 1% of estates were taxed–and most of them belonged to people in the highest federal tax brackets , thanks to these ...

  6. Stepped-up basis - Wikipedia

    en.wikipedia.org/wiki/Stepped-up_basis

    The primary purpose for the stepped-up basis rule under IRC § 1014 is so that, for estates without exemptions to the federal government's estate tax on transfers of wealth at death, the estate's assets are taxed only by estate taxes and not also on the capital gains during the decedent's lifetime.

  7. Capital gains tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Capital_gains_tax_in_the...

    Beginning in 1942, taxpayers could exclude 50% of capital gains on assets held at least six months or elect a 25% alternative tax rate if their ordinary tax rate exceeded 50%. [11] From 1954 to 1967, the maximum capital gains tax rate was 25%. [12] Capital gains tax rates were significantly increased in the 1969 and 1976 Tax Reform Acts. [11]

  8. Rich Americans are dodging capital gains taxes by gifting ...

    www.aol.com/finance/rich-americans-dodging...

    If you sold the stock for $340,000 at that time, you'd only have to pay capital gains taxes on $4,000. Estate taxes would only be a concern if their estate crosses the threshold.

  9. Taxpayer Relief Act of 1997 - Wikipedia

    en.wikipedia.org/wiki/Taxpayer_Relief_Act_of_1997

    The $600,000 estate tax exemption was to increase gradually to $1 million by the year 2006. As inherited assets are automatically revalued to their current or "stepped-up" basis, any capital gains are permanently exempted from taxation. Family farms and small businesses could qualify for an exemption of $1.3 million, effective 1998. Starting in ...