This section discusses how carryover basis is established and adjusted when property, including real property and financial instruments, is gifted (including gift tax adjustments). Implications of revocable and irrevocable trusts are explored, and issues involving the use of joint tenancy, especially those that might apply to today's elderly, are examined.
Sale, Nell Graham
"Carryover Basis for Gifts & Joint Tenancies,"
Marquette Elder's Advisor:
1, Article 5.
Available at: http://scholarship.law.marquette.edu/elders/vol5/iss1/5