Summary

• Jurisdiction: Washington

Chapter Details

Summary

§7.1	Overview
	(1)	An Introduction to Federal Wealth Transfer Taxes
		(a)	The Federal Estate Tax
		(b)	The Federal Gift Tax
		(c)	The Federal Generation-Skipping Transfer Tax
	(2)	Computing Liability for Federal Estate and Gift Taxes: A Unified System
	(3)	History of Federal Wealth Transfer Taxes
	(4)	An Introduction to Washington State Transfer Tax
§7.2	The Federal Estate Tax
	(1)	The Gross Estate
		(a)	Property Held at Death I.R.C. §§2033-2034
		(b)	Inclusion Provisions I.R.C. §§ 2035 -2038 & 2043
		(c)	Special Rules for Certain Assets, I.R.C. §§ 2039-2042 & 2044
		(d)	Valuation Issues
		[Page 7-1]
	(2)	Deductions
		(a)	Certain Expenses and Debts, I.R.C. §2053
		(b)	Casualty Losses During Estate Administration, I.R.C. §2054
		(c)	Charitable Bequests I.R.C. §2055
		(d)	Marital Bequests, I.R.C. §§ 2056 and 2056A
		(e)	State Death Taxes, I.R.C. §2058
	(3)	Computing Tax Liability
		(a)	Tentative Tax Liability, I.R.C. §2001
		(b)	Credits, I.R.C. §§2010-2016
		(c)	Liability for Payment
	(4)	Basis Reporting
§7.3	The Federal Gift Tax
	(1)	Gift Transfers
		(a)	Transfers in General, I.R.C. §2511
		(b)	Valuation of Gift Transfers, I.R.C. §§ 2512, 2701, 2702
		(c)	Split Gifts, I.R.C. §2513
		(d)	Gifts From Exercise of Powers of Appointment, I.R.C. §2514
		(e)	Certain Property Settlements, I.R.C. §2516
		(f)	Disclaimers, I.R.C. §2518
	(2)	Exclusions
		(a)	Annual Exclusion, I.R.C. §2503(b)-(c)
		(b)	Certain Transfers for Educational and Medical Expenses, I.R.C. §2503(e)
	(3)	Deductions
	(4)	Computing Tax Liability
		(a)	Unified Credit, I.R.C. §2505
		(b)	Liability for Payment
§7.4	The Federal Generation-Skipping Transfer Tax
	(1)	Generation-Skipping Transfers
		(a)	Taxable Distributions
		(b)	Taxable Terminations
		(c)	Direct Skips
		(d)	Excluded Transfers, I.R.C. §2611(b)
	(2)	Taxable Amount
	(3)	Applicable Rate of GST Tax
		(a)	Inclusion

...