VMC SURVEY BOARD

[deathtotaxes]

Do some research as it appears you either can't understand or don't want to believe what I said.

$2 million exemption means NO NO NO TAX

Stepped up basis MEANS that you would have the tax basis on the DATE OF DEATH of your recently deceased relative at the then current fair market value of the property. If the property was worth $2 million on the date he died, then your cost basis for taxes would be $2 million.



I HAPPEN TO BE AGAINST THE ESTATE TAX, but I find your discussion to be invalid as you don't fully understand what you are talking about.