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GSTT

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AcronymDefinition
GSTTGeneration Skipping Transfer Tax
GSTTGeological Society of Trinidad & Tobago
GSTTGerman Society for Trenchless Technology (Berlin, Germany)


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The IRS took the position that the marital trust property subject to the decedent's GPA was not exempt from GSTT under Regs.
The CPA and the attorney felt the gifts would be an estate planning tool that would effectively use the taxpayer's $1 million GSTT exemption.
In the August 1997 issue of The Tax Adviser ("Beware Not Allocating the GSTT Exemption on a Gift Tax Return--A Trap for the Unwary," pp.
 
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