By: Martin M. Shenkman, CPA, MBA, JD
The estate tax “Basis Exclusion Amount” is to be indexed for inflation (from 2010) beginning in 2012. If the estate tax relief provisions are not extended, that will be the only year of increase since the law reverts to pre-2001 law after that point (i.e., in 2013). Be careful in that the unused exemption from a deceased spouse is not indexed after their death.
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