美国注册会计师taxes Gift and Estate.pdf

MODULE 34 TAXES: Module 37 Taxes: Gift and Estate TRANSACTIONS IN PROPERTY Regulation 主讲老师:Helen M37 Taxes: Gift and Estate Copyright 高才国际教育集团 Copyright 高才国际教育集团 1 M37 Taxes: Gift and Estate A. The Gift Tax B. The Estate Tax C. Generation-Skipping Tax (GST) D. Income Taxation of Estates and Trusts E. Tax Return Preparers (Homework reading) M37 Taxes: Gift and Estate 2 Copyright 高才国际教育集团 A. The Gift Tax M37 Taxes: Gift and Estate 3 Copyright 高才国际教育集团 A The Gift Tax 1. Gift a) Occurs when a transfer becomes complete Complete: when the donor has relinquished dominion and control and no longer has the power to change its disposition, whether for the donor’s benefit or for the benefit of another Note: a gift is not considered complete (and is not subject to gift tax) if it is conditional gifts or revocable gifts Creation of joint ownership in property Donor’s contribution Less: Donor’s retained interest Gift Note: creation of joint bank account is not a gift; but a gift results when the noncontributing tenant withdraws funds M37 Taxes: Gift and Estate 4 Copyright 高才国际教育集团 A The Gift Tax 2. Purpose of the Gift Tax a) A transfer tax payable by certain donor of gifts Tra