Add to ORKGHandling and disposing of assets producing income in respect of decedent to avoid recognition of gain has long posed a problem. With items of income in respect of decedent, income uncollected at death is later subjected to income taxation to someone other than the decedent, for example, an estate, heir or beneficiary. If income in respect of decedent items are distributed by the estate, the items generally remain subject to income tax and are not subject to the trust rules allowing a deduction for amounts paid or credited to a beneficiary
A 1998 Tax Court case has focused attention once again on the income tax consequences of mortgage fo...
The sale of assets held by the taxpayer primarily for sale to customers in the ordinary course of bu...
Other than for dispositions of installment obligations at death and certain tax-free exchanges, the ...
Items of income in respect of decedent require careful planning attention after death. As property t...
Taxpayers sometimes die with a right to gross income that has not been received at the time of death...
Traditionally, a substantial amount of farm property is transferred within the family. A major issue...
In 1986, Congress enacted the passive loss rules barring the deduction of passive trade or business ...
The dramatic increase in recent years of the level of the applicable exclusion for federal estate ta...
In general, public policy favors charitable giving. Charitable gifts during life are generally eligi...
Although some have argued strongly to the contrary, it was clear for decades even before the statute...
Congressional dissatisfaction with the effects of IRC 1014(a) which, although death is not treated a...
A recent inquiry by a tax practitioner on the proper reporting of a turnover of a farm tractor to th...
It is widely understood that indebtedness in excess of income tax basis is a problem in sales or exc...
Although the promise of a new income tax basis at death (and other factors) tend to discourage gift ...
Generally, the income tax basis, for federal income tax purposes, of an asset included in the gross ...
A 1998 Tax Court case has focused attention once again on the income tax consequences of mortgage fo...
The sale of assets held by the taxpayer primarily for sale to customers in the ordinary course of bu...
Other than for dispositions of installment obligations at death and certain tax-free exchanges, the ...
Items of income in respect of decedent require careful planning attention after death. As property t...
Taxpayers sometimes die with a right to gross income that has not been received at the time of death...
Traditionally, a substantial amount of farm property is transferred within the family. A major issue...
In 1986, Congress enacted the passive loss rules barring the deduction of passive trade or business ...
The dramatic increase in recent years of the level of the applicable exclusion for federal estate ta...
In general, public policy favors charitable giving. Charitable gifts during life are generally eligi...
Although some have argued strongly to the contrary, it was clear for decades even before the statute...
Congressional dissatisfaction with the effects of IRC 1014(a) which, although death is not treated a...
A recent inquiry by a tax practitioner on the proper reporting of a turnover of a farm tractor to th...
It is widely understood that indebtedness in excess of income tax basis is a problem in sales or exc...
Although the promise of a new income tax basis at death (and other factors) tend to discourage gift ...
Generally, the income tax basis, for federal income tax purposes, of an asset included in the gross ...
A 1998 Tax Court case has focused attention once again on the income tax consequences of mortgage fo...
The sale of assets held by the taxpayer primarily for sale to customers in the ordinary course of bu...
Other than for dispositions of installment obligations at death and certain tax-free exchanges, the ...