Source: Chris Clayton, PROGRESSIVE FARMER, 3/29/21


Just about three weeks after Republican senators introduced a bill to permanently repeal the federal estate tax, the Wall Street Journal reported Monday that Democratic senators proposed a plan to tax unrealized capital gains at death. Sen. Chris Van Hollen, D-Md., released a discussion draft of the bill, which would eliminate stepped-up basis that heirs receive for property. Typically, heirs don't pay capital gains until they sell an asset – stock, land, etc – and that comes after they receive the stepped-up basis in the value of that asset.

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