an unlimited maternal deduction applies when there is an outright Bisquick I'm stuck to a longtime companion US citizen spouse surviving spouse who was a non US citizen or all of the above
Solution:-
An unlimited maternal deduction applies when there is an outright:-
US citizen spouse surviving
Explanation:-
The unlimited marital deduction applies only to surviving
spouses that are United States citizens. A Qualified Domestic Trust
(or QDOT) may be obtained to provide unlimited marital deductions
for non-qualified spouses. A bequest through a QDOT defers estate
tax until principal is distributed by the trustee, a U.S. citizen,
or corporation who also withholds the estate tax. Income on
principal distributed to the surviving spouse is taxed as
individual income. After the surviving spouse becomes a U.S.
citizen, principal remaining in a QDOT may then be distributed
without further tax.
Get Answers For Free
Most questions answered within 1 hours.