Alexandria, VA Estate Planning Blog

Tuesday, November 29, 2011

Electing out of the Estate Tax (FORM 8939)


Form 8939 is an information return used to report information about property acquired from a decedent and to allocate basis increase to certain property acquired from a decedent. The IRS has provided information and updated instructions that may be found by clicking this LINK.

The decision to elect, or not to elect, the modified carryover basis rules instead of the estate tax for a 2010 decedent can be a very complicated determination that may have significant consequences. We strongly advise that a competent estate planning tax attorney.

Call us to schedule a consultation.  


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