marital deduction

n. when one spouse dies, the survivor may take a tax deduction of half of the value of the estate of the dying spouse. Thus, the minimum value of the estate before there is a possible federal estate tax rises from $600,000 to $1,200,000 at the death of the first spouse to die. In trusts which a married couple creates, they can agree that on the death of the first to go, the amount of the property which is given to the survivor is limited to the amount which will not be subject to federal estate tax, thus delaying some or all estate tax until the death of the surviving spouse. Such trust provisions should be written only by an attorney and with consultation with an accountant or financial adviser. (See: community property, estate tax, trust)

marital deduction

Marital deduction

A tax deduction that allow spouses to transfer unlimited amounts of property to one another.

Marital Deduction

A deduction one may take when one transfers assets to one's spouse. All gifts and other transfers to a spouse are tax free; one may take advantage of this to reduce one's taxable income (within certain limits). Most marital deductions occur when one is planning one's estate.

marital deduction

The deduction for tax purposes of property transferred between spouses. For estate and gift purposes, all transfers between spouses are free of federal taxation.

marital deduction

For estate tax and gift tax purposes, the 100 percent deduction granted for assets passing to spouses.

单词	marital deduction
释义	marital deduction marital deduction n. when one spouse dies, the survivor may take a tax deduction of half of the value of the estate of the dying spouse. Thus, the minimum value of the estate before there is a possible federal estate tax rises from $600,000 to $1,200,000 at the death of the first spouse to die. In trusts which a married couple creates, they can agree that on the death of the first to go, the amount of the property which is given to the survivor is limited to the amount which will not be subject to federal estate tax, thus delaying some or all estate tax until the death of the surviving spouse. Such trust provisions should be written only by an attorney and with consultation with an accountant or financial adviser. (See: community property, estate tax, trust) marital deduction Marital deduction A tax deduction that allow spouses to transfer unlimited amounts of property to one another. Marital Deduction A deduction one may take when one transfers assets to one's spouse. All gifts and other transfers to a spouse are tax free; one may take advantage of this to reduce one's taxable income (within certain limits). Most marital deductions occur when one is planning one's estate. marital deduction The deduction for tax purposes of property transferred between spouses. For estate and gift purposes, all transfers between spouses are free of federal taxation. marital deduction For estate tax and gift tax purposes, the 100 percent deduction granted for assets passing to spouses.
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