Article On Tax Basis In Estate Planning

Paul L. Caron (Pepperdine University School of Law) & Jay A. Soled (Professor, Rutgers University) recently published an article entitled, New Prominence of Tax Basis in Estate Planning, Tax Notes, Vol. 150, p. 1569 (2016). Provided below is an abstract of the article:

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.