Estate Tax (Form 706) 2021

Finn Kevin20 May, 2022Finance

At death, all property of the decedent is included in the gross estate for estate tax. Taxable gifts made after 1976 are added to the total. The estate is allowed deductions for funeral expenses, administrative expenses, decedent?s debts, and state death taxes. Most property passing to a surviving spouse or charity is also fully deductible.