Course Individually
Course Description
Estate taxes are one of the taxes covered by the IRS's unified transfer tax system. Estate taxes are designed to collect taxes from transferring property at death. Proper planning can save a substantial amount of money in taxes. This course will describe how to identify what is included in the gross estate and demonstrate how to calculate gross estate amounts. This course will discuss portability, and explain the benefits of electing portability. Finally, this course will describe Generation Skipping Transfer Taxes.
Learning Objectives
At the end of this course, students will be
- Calculate the gross estate of the decedent,
- Recognize the various deductions and credits available when calculating the gross estate of a decedent,
- Recognize the benefits of electing portability and calculating portability exemption amounts,
- Describe the purpose of Generation Skipping Transfer Tax according to the IRC
CPE Credit: 2 CPE for CPAs and EAs
Level: Intermediate
Instructional Method: Self-Study
NASBA Field of Study: Taxes
Program Prerequisites: Basic understanding of federal income taxation and estate concepts.
Advanced Preparation: None
Revision Date: January 10, 2024
