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301.9100-3 to file an estate tax return to elect portability of the DSUE amount under Sec.
2017-34 relief, the decedent's DSUE is available to the surviving spouse or the surviving spouse's estate for application to the surviving spouse's transfers made on or after the decedent's death under Estate Tax Regs.
If portability is elected, the surviving spouse's applicable exclusion amount is his or her own basic exclusion amount plus the DSUE (Sec.
By filing a Form 706, his executor could have elected portability of his DSUE. If the election had been made, Jim's widow Marie's estate could have used Jim's DSUE in addition to her own at her death.
While this may not be fatal, it could cause an estate tax upon the SS's death if there is significant appreciation because the DSUE amount is not indexed for inflation.
2010(c) to permit an executor to elect to apply the DSUE amount to the surviving spouse's subsequent transfers, whether as gifts in life or bequests at death.
For example, in Connecticut where the exemption amount is $2 million, the executor of a $10 million estate could elect to treat $8 million as a QTIP (all property in excess of $2 million), and the deceased spousal unused exclusion (DSUE) amount of $3.45 million could be preserved for use by the surviving spouse.[vi] Of course, there are limitations to this approach.
This is the now-familiar Deceased Spouse Unused Exemption (DSUE).
If a decedent dies after December 31, 2010, without having used all of his or her exclusion, the unused portion (deceased spousal unused exclusion or DSUE amount) may be transferred to the surviving spouse.
(2) Finally, a noncitizen spouse may not be able to use the deceased spouse's unused exemption amount (DSUE amount), colloquially referred to as "portability," or the portability rules may limit the use of the DSUE amount.
The executor of an estate electing portability of the decedent's unused exclusion (deceased spousal unused exclusion, or DSUE) may wish to make a QTIP election regardless of whether the QTIP election is necessary to reduce the estate tax liability to zero.
Clients who anticipate leaving relatively modest estates should pay close attention to the recently released IRS final regulations governing the deceased spousal unused exclusion amount (DSUE, also known as portability).
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- DSU Level Supply Automation
- DSU/Theater SIGINET Support System