16-Portability of a deceased spouses unused lifetime exclusion amount

Multiple Choice

• Can be elected only through a timely filing of an estate tax return, Form 706.

• Permits the surviving spouse to apply the decedents unused exclusion amount to the surviving spouses own transfers during life, but not at death.

• Is granted via an election on the decedents fiduciary income tax return, Form 1041.

• Can be granted via an amended tax return of the surviving spouse, Form 1040X.