Timeline for Estate tax exemption amount question
Current License: CC BY-SA 4.0
8 events
| when toggle format | what | by | license | comment | |
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| Nov 11 at 23:27 | comment | added | littleadv | @Barmar this answer is talking about the almost $14M exemption, not the $19K exclusion. That actually does provide for literally millions of tax free transfers. | |
| Nov 11 at 23:13 | comment | added | Barmar | But there's also a limit on the gift tax exclusion, which is currently $18K per recipient. So you can't gift millions to a trust without paying gift tax on it. | |
| Feb 15 at 18:29 | comment | added | keshlam | Good point, @littleadv. It's worth noting that even when the payment is gifted, the recipient may be able to deduct the in-family mortgage interest on their own taxes. | |
| Feb 15 at 17:58 | comment | added | littleadv | @keshlam this is useful when the loan payments are below the annual gift tax exemption amount, which is a freebie and doesn't affect estate tax | |
| Feb 15 at 17:24 | comment | added | keshlam | There are also some dodges for shifting when and how a wealth transfer is taxed, such as doing an in-family loan and then gifting the payments so (a) the giver pays the tax, (2) the tax is spread across multiple (possibly many) years, and (III) it's taxed as ordinarily income from an extremely -low-rate loan (0.3% used to be the lower limit). | |
| Feb 15 at 6:16 | vote | accept | ronald christenkkson | ||
| Feb 15 at 6:14 | vote | accept | ronald christenkkson | ||
| Feb 15 at 6:16 | |||||
| Feb 15 at 4:56 | history | answered | littleadv | CC BY-SA 4.0 |