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SUPPORTING STATEMENT Form 8952 OMB 154522151. CIRCUMSTANCES NECESSITATING COLLECTION OF INFORMATIONForm 8952 has been developed in conjunction with the development of the Voluntary Classification
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Form 8952 is a form used for reporting certain transactions related to the acquisition of assets from a decedent under section 1022.
Individuals who received property from a decedent and want to opt-out of the modified carryover basis rules are required to file form 8952.
Form 8952 must be filled out by providing the necessary information such as the decedent's name, date of death, and the assets received, as well as making certain elections related to the basis of those assets.
The purpose of form 8952 is to allow beneficiaries who received property from a decedent to elect out of the modified carryover basis rules under section 1022.
Information such as the decedent's name, date of death, description of assets received, and certain basis calculations must be reported on form 8952.
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