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Income Tax Planning
Chapter 10: Basis Rules, Depreciation, and Asset Categorization/STEP-TO FAIR MARKET VALUE BASIS RULE EXCEPTIONS
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Chapter 10: Basis Rules, Depreciation, and Asset Categorization

STEP-TO FAIR MARKET VALUE BASIS RULE EXCEPTIONS

01.Core Concepts

• Contemplation of Death Rule • Appreciated property is acquired by a decedent  As a gift,  Within one year of death, and  The property passes from the donee-decedent to the original donor or donor’s spouse. • Income in Respect of a Decedent (IRD) property (IRC Section 691) • Annuity payments transferred from the decedent to a beneficiary