DESCRIPTION
This module addresses the federal estate tax and its history. Topics include the valuation of the gross estate, income in respect of the decedent, deductions in respect of the decedent, portability of the decedent’s unused lifetime exemption, and formula for calculating the estate tax. The module includes a case study and a discussion questions exercise.
LEARNING OBJECTIVES
- Define the federal estate tax and list its history.
- Identify the tax elections available and various requirements to utilize.
- Identify the modifications created by the Tax Cuts and Jobs Act and future sunsetting provisions.
- Calculate a taxable estate.
