In 2010, the top estate tax rate will be zero percent.



Inheritance Gift Tax Exemption In 2010, the top estate tax rate will be zero percent. Yes, although there are fewer ways than many people think, or hope, there are. If you sell the property for a gain, your tax basis is the donor's tax basis.

They can be considered a gift if the payments are not legally required. Whatever the original owner's basis was, that's your basis. The estate tax will be totally eliminated for persons dying after December 31, 2009. The day's top stories e-mailed to you each weekday. In other words, if you aren't paid back, at least not fully, it's a gift.

In 2010, it does not matter how much you have; there will be no estate tax at all in that year. Consult an estate planning specialist if you have questions. The concepts contained herein are not intended to serve as advice and may have legal, tax and accounting implications.