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what is the income in respect of a decedent

what is the income in respect of a decedent

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Income in respect of a decendent refers to the untaxed income which a decented had earned or had a right to recieve during his or her lifetime. Income in respect of decendent is taxed to the individual benficiary or entity that inherits his income. Income in respect of decendent also count towards the decendent's estate for federal estate tax purposes, potentialy drawing a double tax hit. However, the beneficiary may be able to take a tax deduction from estate tax paid.

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