At the time of death, deferred and unrecognized capital gains are exempted from income tax because heirs reset the basis of the assets to their value on the date of death.

Authors

• Person: Not available Organization: Tax Policy Center
  How Government Tax And Transfer Policy Promotes Wealth Inequality

Sources

• How Government Tax And Transfer Policy Promotes Wealth Inequality taxpolicycenter.org Tax Policy Center via serper

Referenced by nodes (2)

• capital gains concept
• heirs concept