[jcheng]

It really is a tax loophole though--for capital gains, the basis is reset upon transferring to your heirs.

https://www.investopedia.com/terms/s/stepupinbasis.asp https://www.peoplestaxpage.org/buy-borrow-die

[kristjansson]

Yes, the joke being that it's sort of hard to personally recognize the benefits of the loophole.

Basis step up should be eliminated though. I can't see any economic justification for it.