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Home#22 - Federal Estate Taxation - An Overview

OVERVIEW OF FEDERAL ESTATE TAXATION




Michele Wright, Esq.,an attorney and CPA in Vienna, and David Wilks, Esq. with the Manassas law firm of Vanderpool, Frostick & Nishaniah, PC, provide an overview of the f
ederal estate tax system, including

  • IRS Form 706, 
  • the amount of assets exempt from federal estate taxation (the "exemption amount"),
  • the tax basis of assets inherited (the "step up in basis as of date of death"), AND
  • the deceased spouses unused exemption amount and its portability to the surviving spouse. 
 
 
 
 
 
  
 
Recorded June 2016. Broadcast October 2016.