7 Pages Posted: 11 Apr 2016 Last revised: 26 May 2016
Date Written: March 28, 2016
In this article, Caron and Soled discuss how section 1014(b)(6) offers a bridge for taxpayers to maximize the tax basis they have in their assets. Whether Congress should retain this anachronistic provision is an open issue. The authors explain the historical background of section 1014(b)(6), demonstrate the potential income tax savings from applying it, and outline several planning strategies to achieve those savings.
Keywords: Tax, Estate Planning, Estate Tax, Income Tax, Basis
JEL Classification: K34
Suggested Citation: Suggested Citation
Caron, Paul L. and Soled, Jay A., New Prominence of Tax Basis in Estate Planning (March 28, 2016). Tax Notes, Vol. 150, p. 1569, Mar. 28, 2016; Pepperdine University Legal Studies Research Paper No. 16. Available at SSRN: https://ssrn.com/abstract=2762043