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Chapter 14

The document discusses special problems related to calculating estate taxes, including determining the net taxable estate, net distributable estate, tax credits for foreign estate taxes paid, and return filing requirements. It provides the tax formula for calculating the net taxable estate, which involves taking the gross estate, subtracting ordinary deductions, and then further subtracting the surviving spouse's share of the net community or conjugal estate.

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Kershey Salac
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63 views

Chapter 14

The document discusses special problems related to calculating estate taxes, including determining the net taxable estate, net distributable estate, tax credits for foreign estate taxes paid, and return filing requirements. It provides the tax formula for calculating the net taxable estate, which involves taking the gross estate, subtracting ordinary deductions, and then further subtracting the surviving spouse's share of the net community or conjugal estate.

Uploaded by

Kershey Salac
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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14-1 to 14-19

SPECIAL PROBLEMS
1.
2.
3.
4.

Net taxable estate


Net distributable estate
Tax credit for foreign estate tax paid
Returns and reportorial requirements

NET TAXABLE ESTATE AND ESTATE TAX.


1. Tax Formula (per revenue regulation):
Exclusive
Community
Total
Gross Estate
Pxxx
Pxxx
Less: Ordinary deductions
xxx
xxx
Net exclusive/community (or conjugal) estate
Pxxx
Pxxx
Net estate
Pxxx
Less: Share of the surviving spouse in the net
Community (or conjugal) estate (1/2)
xxx
Net taxable estate
Pxxx
2. As a general rule, obligations contracted

Pxxx
xxx
Pxxx

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