Examples of Exclusion Amount in a sentence
Complete this row only if a DSUE amount was received from predeceased spouse(s) and was applied to lifetime gifts or if a Restored Exclusion Amount on taxable gifts to a same-sex spouse was applied to lifetime gifts (or both).
The credit begins to phase out when the value is between 100-105% of the state Basic Exclusion Amount.
The consequences of this cliff effect only increase as the Basic Exclusion Amount increases each year.
No New York Estate Tax Return needs to be filed unless the taxable estate exceeds the Basic Exclusion Amount.
A child of a parent whose taxable estate is less than the parent’s Applicable Exclusion Amount may make use of the excess to save income, estate, and generation skipping taxes if the child can transfer assets upstream, from child to parent, in such a way that the assets are included in the parent’s estate with little likelihood that the parent will divert the transferred assets away from the child or child’s descendants.
With an Applicable Exclusion Amount of $5.34, the estate tax liability is less than $5.9 million.
First, the Applicable Exclusion Amount will continue to increase.
This attempted hair-splitting, which would sap any substance from the President’s oft-repeated statements, is unavailing.In the first place, courts have used the phrases “war,” “combat operation,” and “active hostilities” interchangeably.
The marital deduction portion is funded with any assets in excess of the unused Applicable Exclusion Amount.
One option is to draft a testamentary general power of appointment that by formula absorbs any unused portion of a beneficiary’s unused Applicable Exclusion Amount (including any DSUE Amount).