Budget 2023 announced significant amendments to the AMT, a parallel tax calculation that allows fewer tax credits, deductions, and exemptions than under the ordinary personal income tax rules. A taxpayer will be liable for AMT if the computed net AMT is greater than the taxpayer’s federal income...
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If the IRA owner died with a large estate on which federal estate taxes were paid, as the beneficiary you are entitled to a tax deduction for the share of these taxes allocable to the IRA.11 The federal income tax deduction for federal estate tax on income concerning a decedent is a misc...
Boston College, Boston University, Temple University, the Philadelphia Federal Reserve, Standard & Poors' Academic Council, the Center for Economic Policy and Research/Einaudi conference on transparency, Disclosure and Market Discipline in Banking Regulation, and the University of Notre Dame for helpful ...
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If the IRA owner died with a large estate on which federal estate taxes were paid, as the beneficiary you are entitled to a tax deduction for the share of these taxes allocable to the IRA. The federal income tax deduction for federal estate tax on income concerning a decedent is a miscell...