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The income in respect of a decedent (IRD) asset is part of inheritance which consists of taxable income to which the deceased person was entitled to, but failed to receive before their death. A typical case is the last paycheck, which may be left not received. Most of inherited property is not included in an heir’s taxable income, but IRD assets do. While the tax basis of most of a decedent's assets are "stepped up" for income tax purposes, IRD assets are not eligible for a "step-up" in basis, and hence may lead to double taxation, and an income tax and estate tax. ==External links== *("Income in Respect of a Decedent (IRD)" ) The following are considered IRD Income: • Uncollected salaries, wages, bonuses, commissions, vacation pay, and sick pay. • Certain deferred compensation and stock option plans. • Qualified pension plans, profit sharing plans, SEP, Keogh, and IRA except nondeductible contributions. • Accounts receivable of a cash basis sole proprietor. • Interest and dividends accrued but unpaid at death of cash basis decedent. • Rents and royalties accrued before death of cash basis taxpayer. • Gain from the sale of property if the sale is deemed to occur before death, but proceeds are not collected until after death. • Difference between the face amount and the decedent’s basis in an installment sales obligation. • Interest accrued through the date of death on Series EE bonds, unless (1) decedent elected to report interest annually, or (2) the interest was reported on the decedent’s final Form 1040. • Annuity payments in excess of decedent's investment in the contract 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「IRD asset」の詳細全文を読む スポンサード リンク
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