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The Future of Estate Taxes


The Future of Estate Taxes
August 3, 2008
Q: I read your recent answer to a reader question about estate taxes. Part of your answer stated that the estate tax is supposed to disappear entirely in 2010. I seem to recall that when the current rules were put in place several years ago, unless Congress makes changes, starting in 2011 the exemption reverts back to the $600,000 limit that was in place before the current rules were enacted. Is that the case? Also, what will happen to the step-up in basis for inherited assets?

--G.H.P, Sacramento, Cali


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