Has 706 Period of Limitations/Assessement Expired?
Basis of After-Discovered Property in Hands of Beneficiary = 0
Note: If the after-discovered property would be eligible for a marital or charitable deduction (if reported on an original or supplemental 706), it is arguable that this property is outside of the "zero-basis" rule. In that case, the basis of that property would equal its DOD or alternate value even if no 706 or supplemental 706 is filed.
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