Governor Deval Patrick's Budget Recommendation - House 2 Fiscal Year 2015

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1.022 -Nontaxation of Capital Gains at Death


Item DescriptionFY2011 FY2012 FY2013 FY2014 FY2015
1.022 Nontaxation of Capital Gains at Death
Ordinarily, capital gains are taxed at the time appreciated property is transferred. However, no tax is imposed on a capital gain when appreciated property is transferred at death. The appreciation that accrued during the lifetime of the transferor is never taxed as income.

Comment: See also item 1.106 below.

Origin:  IRC S. 1001 and 1014
Estimate:  $731.7
538.9 536 606.9 686.4 731.7

Key:

ORIGIN  
IRCFederal Internal Revenue Code (26 U.S.C.)
U.S.C United States Code
M.G.L. Massachusetts General Laws
Rev. Rul.; C.B. Revenue Ruling; Cumulative Bulletin of the U.S. Treasury
ESTIMATES All estimates are in $ millions.


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