Exemption Equivalent Amount
About Exemption Equivalent Amount:
for purpose of the federal estate and gift tax, taxable transfers (currently $600,000) made during life or at death that are exactly offset by the unified credit ($192,800 in 1994) and therefore are not taxable. Former IRC (check if this IRC provision is current here) §§2010 and 2505.
See Inheritance Tax and Inheritance Tax.
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