Chapter 34 - § 34.21 • REVIEW OF INCOME TAX RETURNS

• Jurisdiction: Colorado

§ 34.21 • REVIEW OF INCOME TAX RETURNS

All of the income tax returns filed for the estate during administration should be reviewed for the purpose of seeing whether amended returns or claims for refund should be filed. Values for death tax purposes may have been changed on audit, but in the meantime, the property in question may have been sold and gain or loss computed, based upon the values stated on the death tax returns. It may also be that an income tax return used date-of-death values for reporting gain or loss, and after the income tax return was filed, alternate...