[Disclaimer]
Accounts of conservators or trustees with accounting periods terminating after January 1, 1974, shall include real estate.
A personal representative, executor, administrator, conservator or trustee, with respect to assets with readily ascertainable market value shall include in his or her account, if the accounting period terminates after January 2, 1973, such market value as of the end of the accounting period or as of such date as may be chosen by the accountant prior to and not more than six months before the end of the accounting period. Market value shall be in addition to book or accounting values. Market values may be furnished by double column on schedule C or by separate schedule. For assets without readily ascertainable market values, such as real estate, patent and copyright interests, oil well interests, close corporation stock and the like, the basis of the valuation used shall be stated (e.g., appraisal on a specified date, assessed value, tax value, book value, nominal value, etc.). Such appraisal may be provided by separate schedule or in juxtaposition to book values of assets held at the end of the accounting period.
Each item or entry within the schedules of accounts shall be numbered sequentially within the schedule.
As added December 14, 2011, effective January 2, 2012.
Reporter's Notes (2012): Rule 29A is changed to Rule 72A to keep the account related rules together. "Content" is added to distinguish the rule from Rule 72 which deals with allowance of accounts.
