gross estate

• Gross Estate; Election to Value on Alternate Valuation Date

This document contains proposed regulations that provide guidance respecting the election to use the alternate valuation method under section 2032 of the Internal Revenue Code (Code). The proposed regulations will affect estates that file Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return and elect to use the alternate valuation method. This document also provides notice of a public hearing on these proposed regulations.

• Federal Register Nbr. 76 FR 71491, November 18, 2011
• Proposed rules
• Treasury Department

• Inclusion of certain trusts in a decedent's gross estate under Sec. 2036.

When a person transfers property into a trust and retains the right to income from the property or the use of the property, under Sec. 2036(a) the pro...

• The Tax Adviser
• Vol. 41 Nbr. 2, February 2010

• 26 CFR 20.2031-7A - Valuation of annuities, interests for life or term of years, and remainder or reversionary interests for estates of decedents for which the valuation date of the gross estate is before May 1, 1999.

• Code of Federal Regulations - Title 26: Internal Revenue

• 26 USC 2031 - Sec. 2031. Definition of gross estate

• US Code - Title 26: Internal Revenue Code

• Gross Estate; Election to Value on Alternate Valuation Date

• FR, April 25, 2008
• Proposed rules
• Internal Revenue Service

• Iras in the Gross Estate Not Reduced for Income Taxes

In Estate of Kahn, the Tax Court ruled that the value of individual retirement accounts (IRA) in the gross estate could not be reduced by the anticipated income taxes paid by the beneficiaries following the distribution of the assets in the IRAs. The court distinguished other situations where it allowed reductions in the value of the gross estate for income taxes and for other reasons. In Estate of Kahn, the Tax Court ruled that the value of the IRAs in the gross estate cannot be reduced for the anticipated income tax, because the seller of the IRA assets would pay the income tax. The Tax Court's ruling provides a logical basis for determining if a reduction in value of assets that are in the gross estate will be allowed. If the reduction in value is passed on to the hypothetical willin...

• CPA Journal, The
• Vol. 76 Nbr. 11, November 2006

• 26 CFR 20.2031-1 - Definition of gross estate; valuation of property.

• Code of Federal Regulations - Title 26: Internal Revenue

• Gift tax on QTIP transfer included in gross estate.

The Tax Court agreed with the IRS that gift tax of approximately $10 million resulting from the gift of qualified terminable interest property (QTIP) ...

• Journal of Accountancy
• Vol. 209 Nbr. 4, April 2010

• Reg-143316-03

Proposed regulations under Section 2053 provide guidance to determine the amount deductible from a decedent's gross estate for claims against the estate under Section 2053(a)(3). Under these regulations, the amount deductible is generally the amount actually paid in satisfaction of a legitimate claim. The regulations provide special rules for potential claims, contested claims, claims against multiple parties, claims by family members and related entities, unenforceable claims, and recurring payments. A public hearing is scheduled for August 6, 2007.

• United States. Internal Revenue Bulletin
• August 19, 2009

• Gross Estate

All the real and PERSONAL PROPERTY owned by a decedent at...

• West's Encyclopedia of American Law
• Fri–Jam