tiltdeac
Well-known member
- Joined
- Mar 23, 2011
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Okay. Let’s say you inherit $10MM of silver and there is no step up in basis and no unified credit or it’s been otherwise exhausted.
The estate owes 40% tax on the silver so you need to sell it. You owe 39.6% on the sale to the government plus 10% to the state. So after income taxes you you have $5,040,000 left. $4MM goes to the estate tax leaving you with $1.04 MM which is a combined 89.6% tax rate.
Sounds perfect #shrug