Thursday, December 22, 2011

Tracking Down Gift Making History -- The Role of a Personal Representative

Depending on the size of an estate and the year of death, the personal representative may be charged with the task of gathering the decedent's gift making history. Assuming that the giftor had accurately reported those gift on tax returns, the history can be obtained by calling the IRS at 1-866-699-4083. I have yet to use this number, however, other experiences with IRS toll-free numbers have yielded positive results.

Thanks to R. Chistian Davis, Vice President, Private Client Group, US Bank, Madison, Wisconsin, for discussing this information at the 45th Annual CLEW Tax Workshop, presented by the University of Wisconsin Law School.

Remember, a blog is for discussion, and is not a substitute for legal or tax advice. Please consult your attorney and or tax person for advice specific to your situation.

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