Death Archives - John R. Dundon II, Enrolled Agent
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Death

29 Jun

Posted at 00:00h in Stepped Up Basis, Basis, Cost Basis, Death, Estate Tax, Generation Skipping Transfer Tax, Gift Tax, Tax planning, Trusts

According to Internal Revenue Code Section 1014 the basis of property acquired from a decedent is the fair market value of the property at the date of the decedent’s death.  In an environment of inflating asset prices this usually means that the beneficiary experiences stepped up basis...

31 Dec

Posted at 00:00h in Death, Retirement

Should you convert your taxable retirement account to a tax-free Roth individual retirement account and how should you deal with the uncertainty over the estate tax? ROTH CONVERSION Starting in 2010, there will no longer be an income limit for Roth I.R.A.’s, which allow people to...

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