Quote:
Originally Posted by Johnny630
So what’s better for your family? Dying with the cards and passing them on through an estate or selling them prior and gifting the money to them?
Seems like if they’re in your will to be passed down croaking with cards is a better tax situation for your heirs.
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Right, because if you sell during your lifetime, you owe tax on any profit, whereas your heirs get a stepped up basis. But there may be countervailing considerations such as reducing the size of your estate through a lifetime sale.
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My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at
https://www.jamesspaethartwork.com/
He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt.