Modified Carryover Basis Instructions Offer Limited New Help

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The recently issued 2010 instructions to the Form 8939 for allocating an increase in basis for property acquired from a decedent held no big surprises for some estate tax advisers, but also offered little new help in filling out the form, several practitioners tell BNA. The Form 8939 allows executors to opt out of the estate tax for 2010 decedents and into a carryover basis regime in which executors can allocate a basis increase of $1.3 million to assets passing to any person, and an additional $3 million to assets passing to a surviving spouse.

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