Carryover Basis Guidance Most Needed

According to an article by Tax Analysts, section 1022 modified carryover basis rules are the area most in need of guidance.  Even though practitioners have a nine-month window to file the estate tax return, many practitioners worry that the issues arising over the changes in the estate tax with regard to modified carryover basis make filings very uncertain. 

See  "Carryover Basis Rules Top Practitioners' Estate Tax Guidance Needs," 2010 TNT 250-1 (December 29, 2010).

Posted by James G. Haskell, Senior Associate Editor, Wealth Strategies Journal.