26 USC 6035 - Basis information to persons acquiring property from decedent

U.S Code last checked for updates: Nov 22, 2024

§ 6035.

Basis information to persons acquiring property from decedent

(a)

Information with respect to property acquired from decedents

(1)

In general

(2)

Statements by beneficiaries

(3)

Time for furnishing statement

(A)

In general

Each statement required to be furnished under paragraph (1) or (2) shall be furnished at such time as the Secretary may prescribe, but in no case at a time later than the earlier of—

(i)

the date which is 30 days after the date on which the return under section 6018 was required to be filed (including extensions, if any), or

(ii)

the date which is 30 days after the date such return is filed.

(B)

Adjustments

(b)

Regulations

The Secretary shall prescribe such regulations as necessary to carry out this section, including regulations relating to—

(1)

the application of this section to property with regard to which no estate tax return is required to be filed, and

(2)

situations in which the surviving joint tenant or other recipient may have better information than the executor regarding the basis or fair market value of the property.

(Added Pub. L. 114–41, title II, § 2004(b)(1), July 31, 2015, 129 Stat. 455.)

cite as: 26 USC 6035