Quote:
Originally Posted by kailes2872
Also, (and maybe a Bob C. question), Do cards have a stepped up basis upon death? Said another way, if I keep them and then pass them on to the kids, is it like a house where their current market value is the stepped up value and they would not be subject to capital gains? Only subject to any federal inheritance tax above the maximum plus any state inheritance tax (PA is currently 4% but I don't plan on retiring here).
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Your heirs do get a step up to FMV at your death. At least under current law! Every once in a while there will be proposals to poke at this, but no changes yet.
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Trying to wrap up my master mays set, with just a few left:
1968 American Oil left side
1971 Bazooka numbered complete panel
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