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ScrollinMyLifeAway OP t1_j9v17fh wrote

Reply to comment by PaulfromChicago in LPT Request: how can I avoid capital gains tax (20%) on land sold (<$500,000)? by ScrollinMyLifeAway

Fascinating and the first time I’ve heard of it. Does it only apply to children?

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qdoug t1_j9vor2u wrote

The stepped up basis need not be children. I think it can be anyone, but there might be restrictions on non-US citizens.

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