When Income In Respect of Decedent is Recognized

Date
1995-09-08
Authors
Harl, Neil
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Abstract

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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