Income tax basis is important in estate planning. This article by my friend and colleague Steve Hartnett, an estate planning expert,examines what happens to an asset’s basis when it is gifted. It then examines what happens to the basis of an asset when someone dies with the asset and then bequeaths it to someone. Many people find it surprising that these are treated differently. Income tax basis is an important factor in considering estate planning strategies.
Latest posts by Timothy P. Murphy (see all)
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- Income Tax Basis in Estate Planning - October 9, 2019