My collection in my will

[aljurgela]

Originally Posted by insidethewrapper

I believe if you sell while still alive you will owe taxes on the profit on any of the items. For example: you brought a set at $100 years ago and now it is $ 2000, the profit would be $ 1900. If your children received it after you died, it would transfer to them ( current market value) at a $ 2000 item and if they sold it for $2000 then no taxes. Therefore don't sell before you pass away unless you really need the money. Avoid taxes if you can.

and something that everyone should keep in mind... the "Step up in Basis" is still a very important part of the tax code.

[h2oya311]

Originally Posted by aljurgela

and something that everyone should keep in mind... the "Step up in Basis" is still a very important part of the tax code.

I was not aware of that. Than you both for the critically important info.