1.022 -Nontaxation of Capital Gains at Death

Item	Description	FY2009	FY2010	FY2011
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. See also item 1.106 below. Origin: IRC S. 1001 and 1014 Estimate: $325.8	222.6	288.3	325.8

Key:

ORIGIN
IRC	Federal 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.