Basis step-up when property is subject to a power of appointment.: An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on December 1, 1997. The length of the article is 699 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The use of general powers of appointment over testamentary trust and estate properties has the benefit of the recipients receiving basis stepped-up to the fair market values as of the date of the power donors' deaths. Properties subject to general powers of appointment are included in estates and so provide beneficial basis treatment to the extent specifically allowed in IRC section 2041. Favorable tax treatment is not provided to properties subject to special powers of appointment.

Citation Details
Title: Basis step-up when property is subject to a power of appointment.
Author: Boyd D. Hudson
Publication:The Tax Adviser (Magazine/Journal)
Date: December 1, 1997
Publisher: American Institute of CPA's
Volume: 28 Issue: n12 Page: 754(2)

Distributed by Thomson Gale