1 upvotes, 1 direct replies (showing 1)
You gonna be able to track bitcoins, safe deposit boxes, offshore stock and bank accounts? How about if you own partial interest in a business that owns multiple other businesses? Or even multiple layers of companies. Real estate assets have registered ownership that is easy to define sometimes. But even that can have multiple LLC's that own other LLC's. This is a rat hole that would tie up the IRS in knots.
Comment by Own_Back_2038 at 04/02/2025 at 04:41 UTC
1 upvotes, 0 direct replies
I doubt it, because money sitting around doesn’t do anyone any good. Most wealth is held in productive assets, so that it grows over time. Realistically, the only tricky part is valuing ownership in private businesses. But with that said, we do it for real estate which is much more subjective.