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Technology Stocks : Intel Corporation (INTC)

INTC 36.20

+0.1%

Dec 26 9:30 AM EST

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To: GVTucker who wrote (141604)	8/14/2001 5:52:14 PM
From: The Duke of URL©	Read Replies (1) of 186894

Actually the statutory language is pretty simple, straight forward and self-explanatory, don't you agree: :))))))))))))))))) Title 28 U.S.C. 1016 (in pertinent part)... (b)Substituted basis Whenever it appears that the basis of property in the hands of the taxpayer is a substituted basis, then the adjustments provided in subsection (a) shall be made after first making in respect of such substituted basis proper adjustments of a similar nature in respect of the period during which the property was held by the transferor, donor, or grantor, or during which the other property was held by the person for whom the basis is to be determined. A similar rule shall be applied in the case of a series of substituted bases. (c) Increase in basis of property on which additional estate tax is imposed (1) Tax imposed with respect to entire interest If an additional estate tax is imposed under section 2032A(c)(1) with respect to any interest in property and the qualified heir makes an election under this subsection with respect to the imposition of such tax, the adjusted basis of such interest shall be increased by an amount equal to the excess of - (A) the fair market value of such interest on the date of the decedent's death (or the alternate valuation date under section 2032, if the executor of the decedent's estate elected the application of such section), over (B) the value of such interest determined under section 2032A(a). ...

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