The design had three stratification variables: year of death, age at death, and size of total gross estate
plus adjusted taxable gifts.
(54.) According to data from the IRS, Internal Revenue Serv., SOI Tax Stats--Estate Tax Statistics, http://www.irs.gov/taxstats/indtaxstats/ article/0,,id=96442,00.html#2, returns filed in 1995 for all gross estates with $5-$10 million assets reported $11,653,648,000 in assets and contributed $955,692,000 to charity (8.2% of the aggregate gross estate).
Estates with gross estates of $5-$10 million, $10-$20 million, and over $20 million bequeathed, respectively, 36.36%, 40.64%, and 39.15% of their gross estates to the surviving spouse.
Not surprisingly, larger estates also gave away a larger portion of their gross estates
than their smaller counterparts, on average.
domicile, all of their assets are includible in their Federal gross estates
. Are there planning opportunities before they establish U.S.
An individual has personal holdings worth $5.0 million in adjusted gross estate
691(c) allows the IRD recipient an income tax deduction for estate tax paid that is attributable to inclusion of net IRD in the decedent's gross estate
. Under Sec.
To qualify for this relief, the asset(s) must be (a) a closely held business engaged in an active trade or business within the meaning of the Code, (b) included in the decedent's gross estate
and (c) have a value greater than 35% of the adjusted gross estate
Gross assets, deductions from gross estate
, including the charitable deduction, and tax computation information are reported on the Federal estate tax return, making the return a rich source of data on wealthy taxpayers.
2041(a)(2) provides that a decedent's gross estate
will include the value of any property over which he held a general power of appointment at the time of death.
In 2001, the second highest percentage of nonresident alien estates was in the gross estate
category of $60,000 under $100,000, with 24.4 percent of the filers in this range.
, only $220,721 for 1999 and $38,414 for 2000 (see Figure H).