Gain Realization at Gift and Death FLEXCAST

Overview

At first, when any of us heard of the possibility of gain realization at death, we thought 23.8%. However, along comes two bills from the house and senate from Pascrell and Van Hollen, and the proposal of a 39.6% long term capital gain rate for households making over 1 million dollars as well as the elimination of the “step-up” at death. Join Robert Keebler as he takes you through the heart of the issue regarding this proposals -gain realization at death and gifting.

Highlights

Introduced Legislation. Core Statutory Language. Exceptions to Forced Recognition. Sec. 6168. Gain Harvesting. Charitable Remainder Trusts. Installment Sales.

Prerequisites

None.

Designed For

CPAs, financial professionals, enrolled agents and attorneys.

Objectives

The New Proposed 39.6% Capital Gains Rate. Elimination of the “Step-Up”. Introduced Legislation- Exemptions and Special Rules for Grantor Trusts. Sensible Taxation and Equity Promotion (Step) Act of 2021 Analysis. Exception to Forced Recognition Under Proposed New Section 1261. Forced Recognition at Gift and Death. Common Planning Situations and Planning Ideas. Deductions for Appraisals. Extensions of Time for Payment of Tax. Gain Harvesting and Capturing a Lower Tax Rate.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.