Comments by "dlukton" (@dlukton) on "Tour of Cheap Land for Sale in Montenegro" video.

  1. Joe Biden is proposing to eliminate the "stepped up basis cost" provision of the tax code as it pertains to estates, and so the heirs to an estate would necessarily owe a tax on any assets, the value of which include an unrealized capital gain. Purchase of land in a place like Montenegro could make sense, if Biden becomes POTUS and gets this change to the tax code implemented. The reason is that the land that a US citizen owns in Montenegro (or other country) would not have to be reported, and so one's heirs could inherit the property without having to pay capital gains tax (or other estate tax) on it. (In Montenegro, the children or spouse of a decedent is not obligated to pay a tax on inherited assets).
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