Replication data for: Revenue and Incentive Effects of Basis Step-Up at Death: Lessons from the 2010 "Voluntary" Estate Tax Regime

Principal Investigator(s): View help for Principal Investigator(s) Robert Gordon; David Joulfaian; James Poterba

Name	File Type	Size	Last Modified
P2016_1037_data			10/12/2019 11:03:AM
LICENSE.txt	text/plain	14.6 KB	10/12/2019 07:03:AM

Project Citation:

Gordon, Robert, Joulfaian, David, and Poterba, James. Replication data for: Revenue and Incentive Effects of Basis Step-Up at Death: Lessons from the 2010 “Voluntary” Estate Tax Regime. Nashville, TN: American Economic Association [publisher], 2016. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113454V1

Project Description

Summary: In 2010, the U.S. estate tax expired and executors of wealthy decedents were not required to file estate tax returns. In the absence of the estate tax, beneficiaries received assets with carryover rather than stepped-up basis. Unrealized capital gains accounted for 44 percent of the fair market value of non-cash assets in estates that chose the carryover basis regime, and an even higher percentage for some asset categories. Many of the largest gains were on assets that had been held for at least two decades.

Scope of Project

JEL Classification:
H22 Taxation and Subsidies: Incidence
H24 Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes

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V1 [2019-10-12]

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