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Upstream Trusts May Be Solution to Eliminate Capital Gains

Posted By Matthew Boyle, Wednesday, December 11, 2019

In light of recent increases in limits for federal estate tax exemptions under the Tax Cuts and Job Acts (TCJA), AAFCPAs advises clients to consider the suitability of an Upstream Trust as a strategy for taxpayers who have highly appreciated assets to save money on capital gains tax.

Upstream Trusts are a new option that AAFCPAs utilizes since the passing of TCJA, which involves taking advantage of the largely unused estate tax exemption of older relatives and the step-up in basis under IRC § 1014.

IN ORDER TO UNDERSTAND THE BENEFIT OF UPSTREAM TRUSTS, LET’S START BY REVIEWING SOME BASIC INCOME TAX RULES.

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Tags:  aafcpas  capital gains  fei partner  upstream trusts 

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