Carryover Basis Provisions of the Tax Reform Act of 1977
Tax Lawyer, Vol. 31, No. 1, p. 191, 1977
37 Pages Posted: 11 Jul 2010
Date Written: 1977
In 1997, Congress repealed the I.R.C. section 1014 Stepped-up basis provisions for property received from a decedent. It replaced the provisions with Section 1023, which provided for the decedent's basis to carry-over to the recipients. Although many commentators found the provisions unduly complicated, the authors herein explain the steps in an understandable manner.
Keywords: Basis, tax law
Suggested Citation: Suggested Citation