Handling Prepaid Expenses at Death

Date
2007-01-19
Authors
Harl, Neil
Major Professor
Advisor
Committee Member
Journal Title
Journal ISSN
Volume Title
Publisher
Altmetrics
Authors
Research Projects
Organizational Units
Journal Issue
Series
Department
Iowa State University Digital Repository
Abstract

Assets held until death, other than for assets producing income in respect of decedent,1 generally receive a new income tax basis at death.2 The basis of income in respect of decedent items, by contrast, is not adjusted at death, under the theory that the income is too close to being earned.3 Income in respect of decedent assets carry over the decedent’s basis into the hands of the heirs or other successor to the decedent.4

Comments
Description
Keywords
Citation
DOI
Source
Collections