Marital Deduction

外汇网2021-06-19 14:00:19 226

A tax deduction that allows an inpidual to transfer some assets to his or her spouse tax free, creating a reduction in taxable income. A marital deduction is mainly used for the purposes of estates and gifts.

The Internal Revenue Service has strict guidelines for allowable deductions, so it is important to make sure that you or your accountant adheres to them when making deductions.

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