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I have a relative who passed away in 2010. Did his estate have to be finalized in 2010 in order to be eligible for the 2010 federal estate tax rate of 0%?


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Expert Thomas Graham iii's Answer:

No, his estate did not have to be finalized in 2010 in order to be eligible for the 2010 federal estate tax rate of 0%. The only element to qualify is the death of the member in the year 2010. There is actually a lot of information still coming out about the 2010 estate tax. Please see instructions that relate to IRS Form 8939 for further guidance. This form is required and is currently due in November of 2011.

 

Thomas Graham iii, CPA, CFE

Oklahoma

7 yrs experience

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