Gift appreciated assets to parents, inherit back stepped-up.
Gift highly appreciated assets to an elderly parent with a small estate. On their death, assets pass back to you (via their will or trust) with a full §1014 step-up in basis — eliminating built-in capital gains. Requires parent survives >1 year (§1014(e) anti-abuse rule) and coordination with their estate plan. Powerful when parents have unused exemption.
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Multiply the $10M §1202 exclusion across multiple trusts.
4% corporate tax + 0% capital gains for bona fide residents.
Stack the $500K primary-home exclusion on top of a 1031 deferral.
Convert Traditional to Roth during sabbaticals or business-loss years.
Capitalize property taxes and interest on undeveloped land.
Deduct now, control forever, employ heirs.
Ordinary loss (not capital loss) on failed small biz — up to $100K.
Buy leveraged real estate inside your IRA — tax-deferred or tax-free.