gross estate deductions
- D.C. Mun. Regs. Tit. 9, § 205 - DEDUCTIONS FROM VALUATION OF GROSS ESTATE
- 45 CFR 233.20 - Need and amount of assistance
Practitioners should know these basics about estate taxes to better advise clients.
... estate and gift tax rules, the exemption amount, the definition of a gross estate, gifts made within three years of death, estate valuation, and ... the decedent's taxable estate (the gross estate less allowable deductions) and the decedent's adjusted taxable gifts to determine the estate tax ...
480 U.S. 23 (1987), 86-1226, Commissioner of Internal Revenue v. Groetzinger
...His efforts generated gross winnings of $70,000 on bets of $72,032, for a net ... items could be lessened by certain deductions that were "attributable to a trade or business ... taxpayer in conserving and enhancing his estate constituted a trade or business, but nevertheless ...
331 U.S. 1 (1947), 68, Crane v. Commissioner of Internal Revenue
... of the mortgage, was entitled to deductions for depreciation on the building, and the ..., the property was appraised for federal estate tax purposes at a value exactly equal to the ... during which period petitioner reported the gross rentals as income, and claimed and was allowed ...
372 U.S. 39 (1963), 21, United States v. Gilmore
... of 1939, as amended, which allots as deductions from gross income "ordinary and necessary ... are incurred in an effort to conserve the estate, and are not necessarily deductible under section ...
256 U.S. 345 (1921), 286, New York Trust Company v. Eisner
..., imposes a tax on the transfer of the net estate of every decedent, graduated according to the ..., in the case of a resident, from the gross estate, funeral, administration and other ... to make return of the gross estate, deductions allowed, net estate, and the tax payable thereon. ...
Estate of Backemeyer v. Commissioner of Internal Revenue, 120816 FEDTAX, 10596-14
... H's death in 2011 of deductions he claimed for 2010 for. his expenditures on the farm inputs. . ... required to include in gross income on Mr. Backemeyer's. 2011 Schedule F an equal amount. ...
116 T.C. 438 (T.C. 2001), 14035-99, Higbee v. Commissioner of Internal Revenue
... of R's disallowance of several deductions and imposition of an addition to tax and ... loss " exceeds 10 percent of the adjusted gross income" . . When property is ... with the trustee of the bankruptcy estate and the disbursements to creditors by the ...
308 U.S. 488 (1940), 151, Deputy v. Du Pont
... net income for taxation a deduction from gross income is allowable only if there is clear ... engaged in conserving and enhancing their estates, ordinarily assist their corporations in similar ...410, which limited such deductions to losses directly connected with the taxpayer's ...
- 26 CFR 1.691(c)-1 - Deduction for estate tax attributable to income in respect of a decedent
Transfer Taxes And The Tax Act: An Overview And Three Possible Responses
... various aspects of personal, business, and estate tax planning affected by the provisions of the ... tax since 1916. The tax applies to the gross estate - all of a decedent's personally owned ... equals the gross estate less these deductions. Gift Tax. The federal gift tax was imposed ...
Pay early, pay less: maximizing TPT credit availability for married couples.
... Internal Revenue Code (1) allows a federal estate tax (FET) credit in situations in which the ...--which are not includible in his or her gross estate (3)--actually generate the TPT credit. ..., in the event of a remarriage, marital deductions. Treas. Reg. [section]20.2013-2(b) presumes that ...
394 F.2d 366 (5th Cir. 1968), 24112, Webb v. C.I.R.
... ------------ . . . . Gross Profit . 19,263.00 . 18,752.20 . . ...8, 78 L.Ed. 212; Broadhead's Estate v. C.I.R., 5 Cir., 391 F.2d 841, March 5, 1968. ..., and was allowed, the following deductions from gross profits for bad check losses: $902.46 ...
320 U.S. 467 (1943), 63, Commissioner v. Heininger
... paid by respondent are deductible from his gross income under Section 23(a) of the Revenue Acts of ... these litigation expenses as proper deductions from his gross receipts of $287,000 and $150,000. ...Estate of Thompson v. Commissioner, 21 B.T.A. 568; ...
- 26 CFR 1.213-1 - Medical, dental, etc., expenses
- 26 CFR 1.691(d)-1 - Amounts received by surviving annuitant under joint and survivor annuity contract
- D.C. Mun. Regs. Tit. 9, § 3702 - COMPUTATION OF TAX
- R.C. § 5731.14 - Determining taxable estate
255 U.S. 257 (1921), 442, United States v. Field
...463, 39 Stat. 777, did not impose an estate tax upon property passing under a testamentary ... Internal Revenue, included as a part of the gross estate of Kate Field the appointed estate passing ... . specified deductions. The gross estate is to be valued as follows:. ...
Wealth Management Update - November 2014
... November Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and ... now calculated by determining the New York gross estate and subtracting certain deductions (which ...
12 F.2d 194 (1st Cir. 1926), 1902, United States v. Ayer
..., qualified, and acting executors of the estate of Frederick Ayer, deceased, having been ... . ------------- . . . Total. gross estate ......... . . $6,162,336.26 . . . ... . ------------ . . . Total. deductions . . 1,274,161.35 . . . . . ...
- 26 CFR 20.2012-1 - Credit for gift tax
283 U.S. 15 (1931), 87, Milliken v. United States
... of Internal Revenue, in assessing an estate tax, that a gift made by the decedent in his ...Under § 403, the taxable estate was the "gross estate" less enumerated deductions. Section 402 ...
Transfer Tax Rules For The Non-Citizen Spouse
...citizen can create complex gift, estate and generation-skipping transfer tax challenges. ... a situs in the United States. Since the gross estate of such individuals is limited to U.S. ... against estate tax is restricted, and deductions from the gross estate must be allocated. Also, ...