• LinkedIn
  • YouTube
  • Twitter
  • Facebook
  • Google+

Zero out estate tax

by on
in Small Business Tax

At long last, the IRS has issued guidance on a special election for estates of individuals who died in 2010. (IRS Notice 2011-66)

If an executor chooses, no federal estate tax applies, but heirs must generally carry over the decedent’s basis (subject to limited step-up-in-basis exceptions).

Taxpayers can make the election by filing Form 8939, Allocation of Increase in Basis for Property Acquired From a Decedent, before Nov. 16, 2011. One catch: The final version of Form 8939 hasn’t been released yet.

Like what you've read? ...Republish it and share great business tips!

Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...

We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.

The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.

" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/28157/zero-out-estate-tax "

Related Articles...

    No matches

Leave a Comment