In his Estate Planning and Philanthropy column, Conrad Teitell discusses a recent decision that held a trust's gift of appreciated realty to be deductible at fair market value, not the lower adjusted basis.
December 28, 2015 at 03:00 AM
1 minute read
A trust’s gift of appreciated realty is deductible at fair market value (not lower adjusted basis) according to a recent decision by a U.S. District Court in Oklahoma, Mart D. Green v. United States (No. 5:13-cv-01237) (W.D. Okla. 2015).
Up-Front Takeaway. A trust shouldn’t bet—or contribute—an appreciated ranch (or other property) based on this district court decision.
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