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King@lemy.lol to People Twitter@sh.itjust.works · 2 years ago

The wealthy

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The wealthy

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King@lemy.lol to People Twitter@sh.itjust.works · 2 years ago
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https://mastodon.social/@FluentInFinance/111754405817875275

  • MNByChoice@midwest.social
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    2 years ago

    Great explanation.

    I was surprised that the loan is paid back after the assets get the stepped up basis, and not at the original basis.

    • sugar_in_your_tea@sh.itjust.works
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      2 years ago

      Yup, estate tax uses stepped up basis, and fed tax is taken out first, so every other debt will use the post-tax amount.

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