Consider the terminable interest rules and whether the following qualifies for a marital deduction. Decedent sold property
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Consider the terminable interest rules and whether the following qualifies for a marital deduction. Decedent sold property to Decedent's child for $150,000, but retained possession for a term of 10 years. The fair market value of the remainder interest transferred to the child was $150,000. Decedent died in Year 7, when he still had the right to possession of the property for three years. The right to the remaining term was left to the surviving spouse or spouse's estate. Analyze.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: