Description

This advanced course is designed to compliment the 4-part 706 Preparation Series and will discuss various aspects of the Generation Skipping Transfer Tax.

Presented by Naomita Yadav

Target Audience

CPAs and attorneys who work extensively with Estate plans and the Generation Skipping Transfer Tax.

Course Objectives

Determine application of the GST rule and when the tax is triggered.

Recognize transfers that trigger GST and when to automatically allocate GST (or elect out) in gifting.

Identify common pitfalls.

Subjects

• Taxable terminations
• Mismatch between available exemption and GST and utilizing excess GST
• GST elections on Form 709 and automatic allocations

Prerequisites

Completion of the Form 706 Preparation 4-part series is encouraged.

Advanced Preparation

Working knowledge of Forms 706 and 709.