"Paul Thomas, CPA" <paulthomascpapc[at]bellsouth.net> wrote in message
news:Qvj%j.18731$hv2.7741[at]bignews5.bellsouth.net...
- quote -

Period of limitations: Yes, unless you specifically file for the
short-statute determination.

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<Drew.Blaha[at]itg-global.com> wrote
- quote -






Yeah. This is a declining economy (unless the estate holds gas and oil
reserves). So what was worth $X months ago can be worth lots-lots less
today, and even less in value this fall.

Expect the IRS to question any decrease of values based on a sale made
months after the DOD. The farther away you get, the more likely they'll be
to not take kindly to your revaluations based on such a strategy.






--
Paul A. Thomas, CPA
Athens, Georgia

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

We're hitting the deadline for our 706 (including the extension).
Still having disagreements with appraisers.
Does a 706 return have the same 3 year statue of limitations for an
amended return?
Rather than argue with the appraiser, I'd rather just be done with the
return, then if anythign sells for significantly less than the
appraised value, turn in an amended return and get a refund.
Anything wrong with that strategy?

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >