Found another cryptic reference to retroactive changes re 2010 regarding decedent’s estates at Bloomberg.com:
A congressional staff member helping draft the legislation said the agreement would give people who died in 2010 a choice of tax treatment for the year: the 35 percent estate tax or a replacement capital-gains tax.
Not positive on why they are saying. I guess might be to give estates the option of no estate tax but limited step up in income tax basis or $5M exemption with 35 percent rate but unlimited step up in income tax basis.
By Kevin Staker