Yeah, Uncle Warren has done well by me.Haha, you sort of caught me in my immediately previous post, which I've edited. We have a share of BRK.A which has experienced a lot of gains and we are keeping for our heirs to benefit from the stepped-up basis. A major difference to OP's situtation, though, is that it's much less than 70% of our portfolio.What's the stock?
Berkshire Hathaway - Hold
Nvidia - sell
So, I guess I'd take the tax hit on at least half of the one stock.
I (or rather my girls) will benefit from stepped up basis as well, but it's kind of a bizzare tax policy if you ask me. It encourages hoarding of wealth and increases wealth inequality. If I were king, you'd only get the benefit of your basis if you sold in your lifetime - and would pass to heirs with zero basis. Use the extra revenue to shore up social security and other things we need. Relatively painless - you won't miss it when you're gone.
Statistics: Posted by Outer Marker — Fri Jul 05, 2024 8:49 am — Replies 18 — Views 1176