Submitted by ScrollinMyLifeAway t3_11au3xn in LifeProTips
xSlappy- t1_j9v3ozv wrote
Reply to comment by PaulfromChicago in LPT Request: how can I avoid capital gains tax (20%) on land sold (<$500,000)? by ScrollinMyLifeAway
The stepped up basis only comes if its a bequest, not a gift. So OP needs to die first I believe
PaulfromChicago t1_j9vbxqz wrote
This is correct. I was assuming a sale after death.
Viewing a single comment thread. View all comments