Journal Issue:
Agricultural Law Digest: Volume 6, Issue 17

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Cases, Regulations and Statutes
( 1995-09-08) Achenbach, Robert ; Iowa State University Digital Repository
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When Income In Respect of Decedent is Recognized
( 1995-09-08) Harl, Neil ; Iowa State University Digital Repository

Items of income in respect of decedent require careful planning attention after death. As property that does not receive a new income tax basis at death, the pre-death basis (possibly zero) carries over with the gain taxable to the estate, the heirs or beneficiary. The income recognition event can lead to substantial income tax liability.

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