The Stepped-Up Basis Secret They Buried Before You Could Use It

Описание: They passed a law that would have ended the stepped-up basis forever — then made it disappear before anyone had to follow it.

In 1976, Congress quietly rewrote the inheritance tax code. By 1980, wealthy lobbying groups had buried it so completely that most Americans never knew it existed — let alone that they lost something.

The stepped-up basis is one of the most powerful tax advantages in the U.S. tax code. When you inherit assets — a house, stocks, land — the original purchase price is "stepped up" to the current market value, wiping out decades of capital gains tax. The 1976 law would have eliminated that entirely. Instead, it was repealed before a single tax return ever had to reflect it.

This isn't a conspiracy. It's public record. And understanding it changes how you think about inherited wealth, estate planning, and who the tax code is actually written for.

If you've ever wondered why the rules always seem to favor people who already have money — this is one of the clearest examples in modern tax history.

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