Program Manager Technical Advice 2019-03: IRS Addresses Connecticut Estate and Gift Tax Deduction under Section 2058

The IRS addressed a special issue impacting the estate tax deduction under IRC §2058 for amounts paid for state estate, inheritance, legacy or succession taxes under Connecticut’s estate tax. In Program Manager Technical Advice 2019-03 the IRS looked at the issue of whether the estate tax paid to the state of Connecticut has to be reduced proportionately to account for Connecticut gift taxes paid within three years of death that are included in the Connecticut taxable estate.

See full discussion at Program Manager Technical Advice 2019-03: IRS Addresses Connecticut Estate and Gift Tax Deduction under Section 2058.

See also Ed Zollars, CPA, Federal Estate Tax Deduction for Connecticut Estate Tax Must Be Reduced to Account for Tax Imposed on Add-Back of Connecticut Gift Taxes Paid Within Three Years of DeathSee also Ed Zollars, CPA.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal..

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