In PLR 200744001 (July 18, 2007), the IRS ruled that a gain realized by a decedent's revocable trust from a property sale whose contract was entered prior to death but which did not close until after the decedent's death was not income in respect of a decedent under IRC Sec. 691.
Posted by Lewis J. Saret, General Editor, Wealth Strategies Journal.
Leave a comment