The 'step-up in basis' provision in the U.S. tax code is a subsidy for inherited wealth because it allows the basis of an asset to be adjusted to its current value upon inheritance, rather than the original purchase price, when calculating capital gains upon sale.

Authors

• Person: Not available Organization: Center for American Progress
  How the Government Subsidizes Wealth Inequality

Sources

• How the Government Subsidizes Wealth Inequality www.americanprogress.org Center for American Progress via serper

Referenced by nodes (2)

• step-up in basis concept
• capital gains concept