Stuart A. Bronstein
Guest
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 Posted:
Wed Nov 09, 2005 9:00 am Post subject:
Re: Estate Tax versus Gift Tax |
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| Quote: | Looks like section 1014(b) (and in this case subparagraph 9)
says that property required to be included in the taxable
estate gets the stepped up basis even if it otherwise
wouldn't be entitled to.
Well....I have a need to know this info ... I recently sold
some of the so called gifted stocks to pay a tax bill.... I
was looking for section 1014(b) at the IRS site. I didn't
find much. I thought it would be nice to attach something
definitive from the IRS to my cost basis figures. Do you
know where I could find some official statement? All that I
have found in the past is gifted moneys get the original
cost basis.
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Here's the statute:
http://snipurl.com/jlij
Oh, and please watch your attributions. You got who said
what wrong in your post.
Stu
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