The Case is in the Details
During the preparation of an estate tax return Scarrow Yurman & Co identified a potential tax savings on the future growth of a real estate property. Our client asked us to pursue the details and here is what we found.
If the estate elected out of an automatic tax-free rollover, then expiring capital losses could be used. This paved the way for significant future tax savings to the estate!
By understanding the client’s situation and knowing the tax law details we were able to highlight this opportunity.