Income Tax Basis for Decedents Dying in 2010

dc.contributor.author Harl, Neil
dc.contributor.department Iowa State University Digital Repository
dc.date 2018-02-19T04:16:21.000
dc.date.accessioned 2020-06-29T22:56:12Z
dc.date.available 2020-06-29T22:56:12Z
dc.date.embargo 2017-11-27
dc.date.issued 2010-05-28
dc.description.abstract <p>When the legislation was enacted in 2001 repealing the federal estate tax after 2009 and implementing a carryover basis regime starting in 2010,<strong>1 </strong>with the federal estate tax and new basis at death returning after December 31, 2010,<strong>2 </strong>few apparently thought that the one-year gap would actually become operative with a carryover basis for one year.<strong>3 </strong>Among other factors was the bizarre situation of a new income tax basis before 2010 and after 2010 with a carryover basis for one year. Actually, the probabilities appear to be good for the Congress to enact and the President to sign legislation yet this year making the federal estate tax effective, retroactive for deaths after December 31, 2009<strong>4 </strong>which would repeal carryover basis and set the applicable exclusion amount at $3.5 million with a 45 percent tax rate, the same as was in effect for deaths in 2009.</p>
dc.identifier archive/lib.dr.iastate.edu/aglawdigest/vol21/iss11/1/
dc.identifier.articleid 2028
dc.identifier.contextkey 11157213
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath aglawdigest/vol21/iss11/1
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/3512
dc.source.bitstream archive/lib.dr.iastate.edu/aglawdigest/vol21/iss11/1/AgLawDigest_v21n11_01.pdf|||Fri Jan 14 17:51:34 UTC 2022
dc.subject.disciplines Agricultural and Resource Economics
dc.subject.disciplines Agricultural Economics
dc.subject.disciplines Agriculture Law
dc.subject.disciplines Public Economics
dc.title Income Tax Basis for Decedents Dying in 2010
dc.type article
dc.type.genre article
dspace.entity.type Publication
relation.isJournalIssueOfPublication 84c9578d-a7b0-4723-8cd7-594db8535908
relation.isOrgUnitOfPublication d2bcee6c-7cba-4fa7-bd11-543354ce7b1b
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