Carryover Basis Provisions of the Tax Reform Act of 1977

Willis, Steven J.

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

See all articles by Steven J. Willis

Steven J. Willis

University of Florida Levin College of Law

Date Written: 1977

Abstract

In 1997, Congress repealed the I.R.C. section 1014 Stepped-up basis provisions for property received from a decedent.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

Willis, Steven J., Carryover Basis Provisions of the Tax Reform Act of 1977 (1977). Tax Lawyer, Vol. 31, No. 1, p. 191, 1977, Available at SSRN: https://ssrn.com/abstract=1638459