Information about the IRS’ 2010 Form 8939

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Today, the IRS posted additional information about the Form 8939. The final version of the Form will be used to allocate basis for property acquired from a decedent dying in 2010. The IRS notes that instructions will be published once the final version of the Form is available (at least 90 days before the date that the Form is required to be filed).

The IRS advises that Form 8939 should not be filed with the decedent’s final income tax return, and that the election into EGTRRA’s modified carry-over basis rules should not be made on the decedent’s final income tax return. Instructions for how to make the election will be included on the final Form 8939.

More information can be found here.