Basis Basics

Basis is trickier than it might appear. Many believe they understand the concept, however once mired in a specific case questions emerge. The current estate planning environment requires planners to understand the income tax, especially basis, better than the estate tax. This course will cover the following topics: Basis of property acquired by gift Basis of property subject to gift tax Basis of property acquired by gift immediately before death Basis of property acquired from a decedent Distribution standards & basis Basis of purchases & reinvestments made by an executor Basis of property subject to a power of appointment Basis of property sold to an intentionally defective grantor trust before death Basis of property sold to an intentionally defective grantor trust after death 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 Basis of property held by an incomplete gift non-grantor trust Basis and grantor trust substitution powers Basis of property sold using a private annuity

Presented by: Robert S. Keebler, CPA, MST, AEP (Distinguished)

CLE: 1.0 general credit 

Approved States: CA, CO, FL, GA, IL, ND, NJ, NV, NY, OK, PA, TN, UT, VT

(AK, AZ, CT, MO, NH, TX eligible to claim credit)

We will supply you with the information needed to apply in other states.

Contact shopcle@wealthcounsel.com for CLE assistance.

WealthCounsel members: This CLE eligible program is complimentary for WealthCounsel members.  Please access and view it here via the member website for optimal experience and inclusion in your CLE Profile Account.