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Old 11-14-2017, 03:28 PM
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Ben North
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Join Date: Jun 2013
Location: South Dakota
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Quote:
Originally Posted by insidethewrapper View Post
I think I'll just keep everything and let my estate have it and pay no taxes. For example: If I bought a card at $ 1000 five years ago and sell it now at $ 2000 I would have additional income of $ 1000. If I die and my son gets it, he gets it at current market value $ 2000 and sells it at $ 2000 therefore no tax. Doesn't matter what the purchase price was. At least that what I have been told.

No, I'm not a tax expert, but I did sleep at a Holiday Inn recently.
You could just do like 99.9% of people do, sell the card and pocket the cash.

I am not a tax expert but I did get a lecture from my accountant on the subject last year.
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