confusion on the AVD on estate

hburns77 · Joined: 13 Feb 2008 Posts: 2

Decedent passed away in October. Certainly looks like we will choose
to use the AVD. The decedent owned shares in 7 companies. We may
choose to sell all the shares in one or 2 of the companies before the
6 month period.
What is the cost basis for the securities. Can we use the value at
time of sale for the 2 securities sold and AVD 6 months (April) for
the remaining securities not yet sold? Thanks Harry

Archived from group: misc>taxes

Arthur Kamlet · Joined: 25 Aug 2007 Posts: 2053

In article ,
wrote:
>Decedent passed away in October. Certainly looks like we will choose
>to use the AVD. The decedent owned shares in 7 companies. We may
>choose to sell all the shares in one or 2 of the companies before the
>6 month period.
>What is the cost basis for the securities. Can we use the value at
>time of sale for the 2 securities sold and AVD 6 months (April) for
>the remaining securities not yet sold? Thanks Harry

You can and will use the FMV at time of sale if sold in less
than 6 months.
--

ArtKamlet at a o l dot c o m Columbus OH K2PZH

smithff33 · Joined: 25 Aug 2007 Posts: 177

On Feb 13, 12:21�pm, hburn...@hotmail.com wrote:
> Decedent passed away in October. �Certainly looks like we will choose
> to use the AVD. �The decedent owned shares in 7 companies. �We may
> choose to sell all the shares in one or 2 of the companies before the
> 6 month period.
> What is the cost basis for the securities. Can we use the value at
> time of sale for the 2 securities sold and AVD 6 months (April) for
> the remaining securities not yet sold? � Thanks Harry

Does the decedents gross estate exceed the exclusion limit (2
million)?
If not, the AVD is not relevant. If the estate is not subject to
estate tax, use the DOD for cost basis.

If the estate is "taxable", use the dates given by Art.

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