The Annual Exclusion and Future Interests Harl, Neil
dc.contributor.department Iowa State University Digital Repository 2018-02-18T11:52:10.000 2020-06-29T22:59:26Z 2020-06-29T22:59:26Z 2017-05-22 1993-04-30
dc.description.abstract <p>As is widely known, gifts of $10,000 or less per year per donee are eligible for the federal gift tax annual exclusion. Moreover, gifts of $10,000 or less do not require the filing of a federal gift tax return. What is less widely known is that only <em>present interests</em> qualify for the annual exclusion. Gifts of future interests are not eligible. And gifts of future interests require the filing of a federal gift tax return regardless of amount.</p> <p>Many seemingly ordinary transactions can give rise to gifts of future interests. Besides requiring the filing of a federal gift tax return regardless of amount, the major concern is that the gift uses up the federal estate and gift tax unified credit.</p>
dc.identifier archive/
dc.identifier.articleid 1184
dc.identifier.contextkey 10196856
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath aglawdigest/vol4/iss9/1
dc.source.bitstream archive/|||Fri Jan 14 17:39:23 UTC 2022
dc.subject.disciplines Agricultural and Resource Economics
dc.subject.disciplines Agricultural Economics
dc.subject.disciplines Agriculture Law
dc.subject.disciplines Public Economics
dc.title The Annual Exclusion and Future Interests
dc.type article
dc.type.genre article
dspace.entity.type Publication
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relation.isOrgUnitOfPublication d2bcee6c-7cba-4fa7-bd11-543354ce7b1b
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