Individual Tax Series

Estate and Gift Tax Valuation Procedures and Basis Considerations (2020)

This course introduces the valuation methods used to establish fair market value for transfer tax purposes. It discusses the benefits of buy-sell agreements along with the alternative valuation date election. It reviews the rules for the determination of the basis of both gifted and inherited property. The concept of income in respect of a decedent and its income and transfer tax impact is also covered.

Learning Objectives:

  • Identify the valuation techniques used to determine the fair market value of gifted and inherited property.
  • Specify the nature of and benefits from instituting a buy-sell agreement.
  • Identify when the alternative valuation date election can be beneficially used.
  • Determine when the penalty for valuation understatements can be imposed.
  • Recognize how the basis of gifted property is determined.
  • Calculate the basis of inherited property.
  • Recognize the significance and tax treatment of items of “income in respect to a decedent.”


Prerequisites/Advanced Preparation:

None


Speaker / Author:

Paul J. Streer
Paul J. Streer, PhD, CPA, is a Professor of Accounting at the J. M. Tull School of Accounting in the Terry College of Business at the University of Georgia, where he teaches graduate-level tax courses in partnerships and personal financial tax planning. He has published numerous articles in professional and academic journals. He is an active instructor and author of CPE courses, which he teaches at both the state and national levels.

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Price (USD)

Standard: $24.95

Details

Course Code : 99STR04-v3

Release Date : 10/27/2020
Expire Date : 10/31/2021
Credits :
CPE 1.00
QAS 1.00

Length : 50min
Course Level : Basic
Course Type : Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Taxes

Theme : Individual Tax Series

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