Basis Step-up (Step-down)

11-09-2005, 04:57 PM

"Ron Rosenfeld" <ronrosenfeld[at]nospam.org> wrote:

- quote -

> I have an interest in a "tax shelter" that at present has a
> large negative basis. Is there any way (other than dying)
> to gift or donate this so as to remove this asset without my
> becoming liable for the taxes that might ordinarily become
> due?

Gee, wouldn't it be great if you could!

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

#-1 11-09-2005, 03:42 AM

I have an interest in a "tax shelter" that at present has a
large negative basis. Is there any way (other than dying)
to gift or donate this so as to remove this asset without my
becoming liable for the taxes that might ordinarily become
due?

Thanks.

--ron

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

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