Is there any good reason to not eliminate step-up basis on death?
Fwiw, I don't think this basis step-up thing is a thing in German tax/inheritance law.
Apparently no one can afford the tax bill on an inherited farm, and it looks terrible forcing family farms to sell their land to a large conglomerate.
How many of those are really left anyway but yeah the pr is bad
It still doesn't make sense to me. If I inherit a farm or other asset, I don't owe capital gains until I sell it right? If the basis remained the same, it's not like I suffer in any way upon inheritance.
I am not a tax expert, but I am pretty sure a change of ownership (minus the exempt amount) is a taxable event.