| Modified Carryover Basis |
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| + | Step-up in
basis rule eliminated in 2010 |
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| + | Carryover
basis except for: |
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| – | Up to
$1,300,000 of general basis increase can be |
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| allocated to
property regardless of recipient |
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| – | Up to
$3,000,000 of spousal property basis |
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| increase can
be allocated to property passing to |
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| spouse
outright or as QTIP |
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