Thursday, January 23, 2014
A new proposed law includes a rule for determining a basis for charitable remainder trusts term interests when all of the interest in the trust is transferred. The rules will enable sellers to increase their basis and avoid recognizing gain for the trusts appreciated property.
See Morgan Yuan, Proposed Regulations Limit Taxable Basis in a Sale of CRT Interest, Wealth Strategies 2.0, Jan. 21, 2013.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.