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I have prepared a Form 706 for purposes of making the portability election.
However, I will need to amend the Form 706 and therefore the portability amount will change.
Does the IRS allow for amendments to the portability amount?
I subscribed to the webinar "New Estate Basis Reporting Rules & Portability Update' but I did not see any mention of the IRS allowing for amending the original election.
Can this be done?