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The Impact of the Estate Tax on Capital Gains Realizations: Evidence from the Taxpayer Relief Act of 1997: Working Paper 2010-08

  • Athiphat Muthitacharoen
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    This study investigates the effects of the estate tax on decisions to realize capital gains. It identifies the effects on realization decisions through the changes in the estate tax exemption level introduced by the Taxpayer Relief Act of 1997 (TRA97). Using data from the Survey of Consumer Finance (SCF), the analysis focuses on changes in capital gains realization by households that were affected by an increase in the estate tax exemption level. Applying the generalized Tobit procedure that corrects for sample selection and endogeneity in tax variables, the study finds that those households

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    File URL: https://www.cbo.gov/sites/default/files/111th-congress-2009-2010/workingpaper/2010-08-estatetaxandcapitalgains_0.pdf
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    Paper provided by Congressional Budget Office in its series Working Papers with number 21941.

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    Date of creation: 23 Nov 2010
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    Handle: RePEc:cbo:wpaper:21941
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    1. Auten, Gerald E. & Burman, Leonard E. & Randolph, William C., 1989. "Estimation and Interpretation of Capital Gains Realization Behavior: Evidence from Panel Data," National Tax Journal, National Tax Association, vol. 42(3), pages 353-74, September.
    2. Hurd, Michael D, 1990. "Research on the Elderly: Economic Status, Retirement, and Consumption and Saving," Journal of Economic Literature, American Economic Association, vol. 28(2), pages 565-637, June.
    3. Auten, Gerald & Joulfaian, David, 2001. "Bequest taxes and capital gains realizations," Journal of Public Economics, Elsevier, vol. 81(2), pages 213-229, August.
    4. Lee, Lung-fei & Maddala, G S & Trost, R P, 1980. "Asymptotic Covariance Matrices of Two-Stage Probit and Two-Stage Tobit Methods for Simultaneous Equations Models with Selectivity," Econometrica, Econometric Society, vol. 48(2), pages 491-503, March.
    5. Christopher Winship & Larry Radbill, 1994. "Sampling Weights and Regression Analysis," Sociological Methods & Research, , vol. 23(2), pages 230-257, November.
    6. B. Douglas Bernheim & Robert J. Lemke & John Karl Scholz, 2001. "Do Estate and Gift Taxes Affect the Timing of Private Transfers?," NBER Working Papers 8333, National Bureau of Economic Research, Inc.
    7. Burman, Leonard E & Randolph, William C, 1994. "Measuring Permanent Responses to Capital-Gains Tax Changes in Panel Data," American Economic Review, American Economic Association, vol. 84(4), pages 794-809, September.
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