Estate and Gift Tax Charitable Deductions

Download or read book Estate and Gift Tax Charitable Deductions written by Edward J. Beckwith and published by . This book was released on with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: ... surveys the estate tax charitable deduction allowed to a decedent's estate by [section] 2055 for transfers to qualifying recipients for public, charitable, religious, and other similar purposes, and the gift tax charitable deduction available to a transferor by [section] 2522 for lifetime transfers. The discussion of the estate tax deduction includes the criteria for eligible [section] 2055 recipients; the requirements for qualifying inter vivos and testamentary transfers; the interaction of [section] 2055 with the [section] 2518 qualified disclaimer; and the special rules that apply when a transfer involves property in which interests are split between charitable and noncharitable recipients. The discussion of the gift tax deduction includes the criteria for eligible [section] 2522 recipients; the requirements for qualifying transfers; and split-interest gifts. The Portfolio also discusses the requirements for obtaining a [section] 2106 charitable deduction for estates of nonresident, noncitizen decedents. The Portfolio is an analysis of the deduction's practical and tax advantages as well as the pitfalls of ineffective planning or no planning.