Sidney dies and leaves property to his sister Giselle. Thirteen months later, Giselle dies. Under § 2013 (credit for tax on prior transfers), Giselle's estate can claim a full credit for any Federal estate taxes paid by Sidney's estate as to amounts passing to Giselle.

Question

Quizplus · Accepted Answer

This is true according to § 2013 of the Internal Revenue Code. Giselle's estate can claim a credit for any Federal estate taxes paid by Sidney's estate on any property that passed to Giselle.

Sidney Dies and Leaves Property to His Sister Giselle