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dc.contributor.authorMaher, Terrence P.en_US
dc.date.accessioned2013-02-14T18:51:38Z
dc.date.available2013-02-14T18:51:38Z
dc.date.issued1983en_US
dc.identifier.citation16 Creighton L. Rev. 1153 (1982-1983)en_US
dc.identifier.urihttp://hdl.handle.net/10504/39460
dc.description.abstractINTRODUCTION|A difficult tax question arises when income is received by a decedent's successor in interest as a result of a sales transaction executed during the decedent's lifetime, which was not completed until some point after death. This question revolves around whether these sales proceeds constitute "income in respect of a decedent" within the terms of section 691 of the Internal Revenue Code (Code). If so, the successor in interest would be required to include the proceeds in gross income. If not, the property which was subject to the sale, as an asset of the decedent's gross estate, would be entitled to a step-up in basis equal to its fair market value on the date of the decedent's death. Any taxable gain on the . I.R.C. Section 691(a) (1) (1954). That section provides that a successor in interest could be the decedent's estate, any person who acquired the right to receive an amount passing outside of his estate, or any person acquiring a right by bequest, devise, or inheritance after a distribution of the estate...en_US
dc.publisherCreighton University School of Lawen_US
dc.titleTaxation - Estate of Peterson v. Commissioner: Income in Respect of a Decedent as Applied to a Livestock Sales Contracten_US
dc.typeJournal Articleen_US
dc.rights.holderCreighton Universityen_US
dc.description.volume16en_US
dc.publisher.locationOmaha, Nebraskaen_US
dc.title.workCreighton Law Reviewen_US
dc.description.note1982-1983en_US
dc.description.pages1153en_US


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