Avoiding Higher Taxes: Stepping up your basis

‘Dramatic’ increase in IRS capital-gains transactions as Biden administration considers raising tax rates on the wealthy

Through July, millionaires reported roughly $140.5 billion in combined capital gains and/or losses, up from $118.4 billion one year earlier.

www.marketwatch.com

Interesting article talking about how people are capturing their capital gains now to avoid paying higher tax rates later.

Time to sell that crypto and buy it back?

The US is also seeing more Roth IRA conversions presumably for the same reason.

Food for thought.

from Avoiding Higher Taxes: Stepping up your basis