"Break that down for me?" Assume you've been in startupdom and have $5 million in stock in a particular company at a basis of $0. To avoid ethics conundrum, you can sell it, put $5 million into something from Vanguard, and defer paying capital gains tax until you sell the fund.
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As a tax management strategy one basically always prefers paying taxes later to paying taxes earlier, but the thing this lets a taxpayer do is a one-time tax-deferred polymorph between assets rather than uniquely gaining some durable advantage in tax rates.
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