Sat Apr 27 2024, by Tyler Gardner

Estate TaxesCapital GainsTax LawsFinancial EducationTrusts

Navigating Estate and Capital Gains Taxes: What You Need to Know

Tyler?

Yep.

Looks like your mom and dad left you their house in Aspen worth $24.12 million.

Yep.

Can't wait to get our 40% estate tax on this one.

You owe us... nothing.

I'm not playing this game again.

No game?

Thanks to the Tax Cuts and Jobs Act, as long as my inheritance is under $24.12 million from my parents, I owe you nothing.

Okay, but when you sell this mansion, we'll be waiting for our 20% capital gains tax.

You’ll be waiting for nothing.

Because, whoops, when someone dies and leaves assets in a trust, all of the capital gains magically disappear.

So you officially get nothing?

Nothing.

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