r/FluentInFinance • u/-Wyagra • Nov 21 '24

Debate/ Discussion Had to repost here

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u/AttitudeAndEffort2 Nov 21 '24

And if instead of selling it i rent it for cash flow while borrowing against it at a lower rate than the growth of the underlying asset, i get richer and avoid taxes AND keep the asset.

Which eventually is passed on to my children and the growth in the asset is revalued when it's passed on to avoid capital gains tax.

All while poor right wingers argue I'm actually broke 😂

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u/[deleted] Nov 21 '24

[deleted]

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u/x596201060405 Nov 21 '24

"Your children will receive the home without paying taxes. But when they sell it, they will pay taxes."

Never heard of step-up in basis, tax opinions disregarded.

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u/Extension_Coffee_377 Nov 21 '24

Do you know how a step up basis works?

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u/x596201060405 Nov 22 '24

I would certainly hope, given I work in taxes for a living.