Written in clear, jargon-free language, this invaluable resource serves as a practical manual and "how to" guide on the tax aspects of wealth transfers by descendants (estate tax compliance issues), as well as lifetime wealth transfers (gift tax compliance issues). It provides step-by-step, annotated guidance with respect to the preparation of:
* Federal estate tax return
* Descendant's final federal income tax return
* Federal income tax returns for a descendant's estate and any trust established by the descendant.
For each of these returns, Estate and Gift Tax Handbook provides a concise, practical overview of the relevant tax materials, along with helpful examples and practice aids such as checklists and completed tax forms. Moreover, the book includes chapters on the preparation of a federal gift tax return and a federal generation skipping transfer tax return, as well as materials providing an overview of the federal gift tax and federal generation skipping transfer tax.
