If you pass your house onto your kids, the basis steps up, which means your kids take it not at the cost you paid, but whatever the cost is when they inherit it. So … It's about 25% [of homes] saying, by [are passed on at death due to high capital gains tax]. … among the highest taxes in the country. Yes. What percent of hopes do you think are passed on at death? In other words, are held onto so long because the capital gains tax would be so high? (15:21–15:29)
CLAIM
Asserts that approximately 25% of homes are passed on at death due to high capital gains tax.
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