Consistent Basis Reporting Between Estate and Person Acquiring Property From Decedent (REG-127923-15)

The proposed regulations provide guidance regarding the requirement that a recipient’s basis in certain property acquired from a decedent be consistent with the value of the property as finally determined for federal estate tax purposes. The regulations also provide guidance on the information returns executors or other persons must file or furnish with the IRS and certain beneficiaries who acquire property from the decedent’s estate.