Concerning the Federal tax on generation-skipping transfers:

Question

Quizplus · Accepted Answer

The Federal tax on generation-skipping transfers (GST) allows for various deductions and credits to reduce the amount of tax owed. This includes the charitable deduction, which allows transfers to qualifying charities to be deducted; the marital deduction, which allows transfers to a surviving spouse to be deducted; and a credit for state-level GST taxes paid, helping to avoid double taxation on the same transfer.

Concerning the Federal Tax on Generation-Skipping Transfers