The tax on generation skipping transfers has been repealed.

Name: The tax on generation skipping transfers has been repealed.
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Question

Quizplus · Accepted Answer

The tax on generation-skipping transfers (GST) has not been repealed; it remains in effect to tax transfers of property that skip a generation, such as gifts or bequests from grandparents directly to grandchildren, when the transfers exceed a certain exemption limit.

The Tax on Generation Skipping Transfers Has Been Repealed