The Basis Rules for Assets Acquired by Gift or Inheritance: More Complex Than You May Think (Currently Unavailable)

Author: Robert S. Keebler

Understand Complex Basis Rules for Assets for Gift Recipients and Heirs The current estate planning environment requires planners to understand both the estate tax and the income tax. With low transfer taxes and high income taxes, basis becomes a significant concern. The nature of acquisition – gift or inheritance – and the nature of the asset can affect the basis calculations.


This practice-oriented class is designed to help you understand how basis rules work and master them while avoiding pitfalls that can result in tax problems for all parties involved. Presented by tax and estate planning expert, Robert Keebler, CPA, M.S.T., AEP, this convenient two-hour online CPE seminar provides a practical overview of how basis works when assets are gifted or inherited.


All professionals who advise clients on tax, estate, and financial planning matters will profit from this timely and insightful seminar. You and your colleagues can join from the convenience of your office, and earn two hours of CPE credit. Plus, time will be provided to ask questions directly to Mr. Keebler via email during the program.

Publication Date: November 2015

Designed For
This course is essential for CPAs, enrolled agents and other professionals who advise clients on tax, retirement and estate planning, and other wealth management matters.

Topics Covered

• Basis of property acquired by gift
• Basis of property acquired from a decedent
• Basis of property sold to an intentionally defective grantor trust
• Basis of property transferred back to the donor after the death of the recipient
• Basis of nonqualified annuities, IRAs, and other items of IRD
• Basis in community and separate property states

Learning Objectives

• Identify the basis rules for property acquired from a decedent
• Describe how basis in gift assets is determined
• Recognize how basis is determined on nonqualified annuities, IRAs, and other income in respect of a decedent

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic understanding of federal income and estate and gift taxes.

Advance Preparation
None