Estates of people who died in 2010 have only until Jan. 17 to decide whether
to elect to have the modified carryover basis rules of IRC section 1022
apply. In the case of decedents who were S corporation shareholders, this
decision is complicated by issues involving S corporation basis, income in
respect of a decedent, the passive loss rules, and other considerations.
This article provides an in-depth discussion of the opportunities and