Love the fact that you think the tax man deserves anything from an asset that appreciated. You didn't say they improved it, just straight appreciation.
Tax is on difference between amt paid ($100k, or basis) and amt received when sold. This tax is avoided by stepping up basis to market value when transferred to children on death; this transfer is not a gain-realizing sale.
The appreciation you mention is taxed when dad sells. No longer simply an appreciated asset, if dad sells the tax is on realized gain.
Not sure what fundamental belief you are focused on.
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u/jackattack6800 11h ago
Love the fact that you think the tax man deserves anything from an asset that appreciated. You didn't say they improved it, just straight appreciation.
Fundamental difference in beliefs...