Question
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
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.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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