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Pace University

2007

Pace Law Faculty Publications

Taxation

Articles 1 - 2 of 2

Full-Text Articles in Law

Can You Have Your Cake And Eat It Too? Achieving Capital Gain Treatment While Keeping The Property, Ronald H. Jensen Oct 2007

Can You Have Your Cake And Eat It Too? Achieving Capital Gain Treatment While Keeping The Property, Ronald H. Jensen

Pace Law Faculty Publications

I will attempt to show in this article that the cases and rulings dispensing with the need for a sale or exchange are unjustified under the statutory scheme and prevailing capital gain jurisprudence, and further that such holdings constitute bad policy. Part II will set forth a number of examples, based largely on decided cases, where it has been held or contended that recoveries in excess of basis qualify for capital gain treatment even though the taxpayer did not sell or exchange the property. These cases will illustrate the contexts in which this issue arises and will provide a basis ...


Estate Planning For Persons With Less Than $5 Million, Bridget J. Crawford Sep 2007

Estate Planning For Persons With Less Than $5 Million, Bridget J. Crawford

Pace Law Faculty Publications

Individuals of modest wealth may face significant estate taxes but do not have such a large base of wealth that they can 'afford' to make major lifetime gifts or other transfers to reduce estate taxes. But there are planning techniques that can help. Individuals in the ‘modest‘ wealth category face special hurdles in estate planning. This article will assume that the ‘modest‘ wealth category includes individuals whose net worth exceeds the amount of taxable gifts that may be protected by the unified credit (the equivalent of $1 million and herein referred to as the ‘gift tax exemption‘), but does not ...