Carryover Basis Instead of Estate Tax: Form 8939

Form 8939 has been released by the IRS. If an executor is electing carryover basis instead of estate tax under IRC § 1022 for decedents dying in 2010; this form is filed in place of an estate tax return. The instructions note that an executor may not file both a Form 706 and Form 8939 that would take effect only if an estate tax audit increases the decedent’s gross estate. This form must be filed by January 17, 2012 by the executor and the executor cannot revoke it once filed unless they file a subsequent form before the due date.


Stacey R. Edwards Jones, Managing Partner

Jones Law Office
212 Madison Avenue, Suite 100 | Mankato, MN 56001
phone: 507.385.4488 | fax: 507.385.1288 | website:
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