9 min
Step Up! The Gain is Gone | Series 3.5 Enjoy More 30s: Family Finance
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- How To
Special rules as of Spring 2021 that allow certain assets to forgive 100% of all the taxable gains - do your parents have any of these accounts?
First know how the rules currently work: non-retirement gains are essentially wiped away from the individual inheriting the non-retirement assets (02:25)Ask general questions to make your parents aware of this (04:17)
Quote for the episode: "The current cost basis rules are kind of the same thing right now where, instead of skipping a line, you get to skip all the built up unrealized gains that may have accumulated over time.”
Securities offered through TFS Securities, Inc., Advisory Services through TFS Advisory Services, a SEC Registered Investment Advisor Member FINRA / SIPC. TFS Securities, Inc. located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.
Special rules as of Spring 2021 that allow certain assets to forgive 100% of all the taxable gains - do your parents have any of these accounts?
First know how the rules currently work: non-retirement gains are essentially wiped away from the individual inheriting the non-retirement assets (02:25)Ask general questions to make your parents aware of this (04:17)
Quote for the episode: "The current cost basis rules are kind of the same thing right now where, instead of skipping a line, you get to skip all the built up unrealized gains that may have accumulated over time.”
Securities offered through TFS Securities, Inc., Advisory Services through TFS Advisory Services, a SEC Registered Investment Advisor Member FINRA / SIPC. TFS Securities, Inc. located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.
9 min