Will the "Stepped Up Basis" rule be eliminated in the US federal tax code before 2035?
2
1kṀ5002030
31%
chance
1H
6H
1D
1W
1M
ALL
This questions resolves to "Yes" if, before 2035, an asset that is part of an inheritance will be taxed at its original basis rather than getting a "stepped up basis" to a new basis value when the asset is transferred.
An example:
Dad has $1M in stocks that he bought for $100K
Dad dies. We love you Dad.
Kid inherits Dads stocks and then sells the stocks for $1M.
Today, Kid would not owe any capital gains taxes, as the basis will have "reset" to $1M upon the transfer.
But if the stepped up basis is eliminated, then Kid would need to pay capital gains tax on $900K difference between the sale price and the original basis.
More context: https://en.wikipedia.org/wiki/Stepped-up_basis
This question is managed and resolved by Manifold.
Get 
1,000 to start trading!
1,000People are also trading
Related questions
Will the next US president close the step-up basis tax loophole?
21% chance
Will the US continue to use a Standard Deduction in determining income tax by end of 2030?
87% chance
Will there be taxes on "unrealized" capital gains in the US by the end of 2025?
3% chance
Will capital gains taxes on cryptocurrencies issued by U.S. companies be eliminated before 2026?
28% chance
Will a raise to the top capital gains tax rate be enacted in 2025?
1% chance
Will the US raise top capital gains tax rate to > 40%, with >15% unrealized capital gains tax, by EOY 2025?
2% chance
Will the United States pass a federal wealth tax before January 1st, 2030?
10% chance
Will long-term capital gains tax rate (federal) be increased in the US by the end of 2026?
25% chance
Will there be any tax on unrealized capital gains in the USA before eoy2028?
14% chance
Will Congress revert tax law to allow for full expensing of US-based R&D in 2025?
27% chance