Data / Federal rules / 2024-20429
Consistent Basis Reporting Between Estate and Person Acquiring Property From Decedent
The Internal Revenue Service published this final rule in the Federal Register on September 17, 2024. It took effect on September 17, 2024.
SpecStream is the live web data engine for teams and agents. It reads every rule and proposed rule in the Federal Register each morning, and this page is that reading. Name your industry once and new rules, comment deadlines and effective dates arrive in your sheet, CRM, Slack or agent as they are published.
What the agency says
This document contains final regulations that provide guidance on the statutory 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. In addition, the final regulations provide guidance on the statutory requirements that executors and other persons provide basis information to the IRS and to the recipients of certain property. The final regulations regarding the statutory consistent basis requirement affect recipients of property acquired from a decedent if the inclusion of the value of the property in the decedent's gross estate increases the Federal estate tax liability. The final regulations regarding the statutory basis reporting requirements affect executors and other persons required to file an estate tax return based on the value of the decedent's gross estate and the amount of decedent's lifetime adjusted taxable gifts, as well as trustees making in-kind distributions of property initially acquired from a decedent that was subject to the statutory basis reporting requirements.
Key facts
- Document number
- 2024-20429
- Type
- Final rule
- Action
- Final rule
- Agency
- Treasury Department; Internal Revenue Service
- Published
- September 17, 2024
- Takes effect
- September 17, 2024
- Dates
- Effective date: These regulations are effective on September 17, 2024.
- Docket
- TD 9991
- Regulation ID (RIN)
- 1545-BM97
- Code of Federal Regulations
- 26 CFR 1; 26 CFR 301
- Topics
- Employment taxes; Estate taxes; Excise taxes; Gift taxes; Income taxes; Penalties; Reporting and recordkeeping requirements
- Pages
- 32
Other documents from the Internal Revenue Service
| Document | Type | Published |
|---|---|---|
| Guidance Under Section 355 Concerning Device and Active Trade or Business; Partial Withdrawal 2026-21568 | Proposed rule | Oct 21 |
| Regulations Regarding Payment of Tax by Commercially Acceptable Means 2026-21267 | Final rule | Oct 19 |
| Non-Applicability of Section 357(c) to Consolidated Groups 2026-21253 | Final rule | Oct 16 |
| Premium Tax Credit 2026-21056 | Proposed rule | Oct 15 |
| Application of the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 to the Refunded Portion of Certain Federal Refundable Tax Credits; Hearing Cancellation 2026-20790 | Proposed rule | Oct 9 |
| Transparency in Coverage 2026-20447 · significant | Final rule | Oct 6 |
| Federal Scholarship Tax Credit 2026-20277 | Proposed rule | Oct 2 |
| Federal Scholarship Tax Credit 2026-20264 | Final rule | Oct 2 |
Everything from the Internal Revenue Service · Rules on employment taxes · Rules on estate taxes · Rules on excise taxes · Published in September 2024
Read from the Federal Register API, last updated 2026-10-23. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.