Estate Basis Consistency Rules for Fiduciaries: IRS Final Regulations, Reporting Requirements, Distribution Strategies
A live 90-minute CLE/CPE video webinar with interactive Q&A
This CLE/CPE course will provide estate planners and advisers to trusts and estates with a practical guide to estate basis consistency reporting requirements as they impact trustees and fiduciaries. The panel will discuss IRS final regulations and key issues for fiduciaries, explain the IRS pronouncements on coordinating basis reporting with the filing of the estate tax return and valuations reported on Form 8971, and offer strategies to help fiduciaries avoid adverse tax consequences in estate distributions in light of the final regulations.
Outline
- Section 1014 basis consistency rules
- IRS final rules
- Estates subject to basis consistency
- Property subject to basis rule
- Final value determination methods
- Zero basis rule and other tax consequences due to omission or non-reporting
- Section 6035 reporting requirements
- Supplemental reporting requirements
- Distribution considerations and strategies
Benefits
The panel will review these and other relevant topics:
- Key provisions of recent IRS final estate basis consistency rules
- Reporting property on Form 8971
- Coping with scenarios in which the executor does not wish to disclose asset basis values to a particular beneficiary
- Rules on post-mortem basis adjustments to estate assets
- Penalties for failure to disclose all assets on Form 8971 and Schedule A
- How fiduciaries should remedy reporting mistakes or failures
- Distribution concerns and strategies under the basis consistency reporting rules
Faculty

Heather G. Balgaard
Attorney
Monroe Moxness Berg
Ms. Balgaard is an integral part of the firm’s estate planning practice, bringing experience across all... | Read More
Ms. Balgaard is an integral part of the firm’s estate planning practice, bringing experience across all facets of estate planning. She provides comprehensive guidance to clients on a wide range of estate related issues.
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Neal B. Jannol
Attorney
Law Offices of Neal B. Jannol
Mr. Jannol is a sole practitioner in Los Angeles at the Law Offices of Neal B. Jannol. He has been an attorney for more... | Read More
Mr. Jannol is a sole practitioner in Los Angeles at the Law Offices of Neal B. Jannol. He has been an attorney for more than 20 years and concentrates his practice on sophisticated estate and tax planning for individual clients, the representation of individual and corporate fiduciaries, and the administration of estates and trusts. His experience includes drafting revocable and irrevocable trusts, business succession planning, premarital planning, charitable gift planning, and all aspects of estate administration and probate procedures. He is a member of the State Bar of California and is a Certified Specialist in Estate Planning, Trust & Probate Law. Mr. Jannol earned his B.A. degree, magna cum laude, from the University of California at Los Angeles and his J.D. degree from the University of California at Berkeley, Boalt Hall School of Law.
CloseCannot Attend May 14?
You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. CPE credit is not available on recordings. Strafford will process CLE credit for one person on each recording. All formats include course handouts.