Fundamentals of Federal Income, Estate, and Gift Taxes: With Emphasis on Life Insurance and Annuities |
Common terms and phrases
accumulated adjusted basis adjusted gross adjusted gross income allocated allowed amount annual annuity contract apply assets attributable beneficiary benefit capital gain cash charitable Commissioner community property computed contemplation of death contributions corporation corpus death proceeds death taxes decedent decedent's death depreciation distributable net income dividends donor earnings election employee erty estate owner exceed exclusion exemption expenses fair market value federal estate tax gain or loss gift tax grantor gross estate gross income held Helvering incidents of ownership included income tax individual insurance policy insurance proceeds insured's investment joint tenancy marital deduction ment option ordinary income owner-employee partner payable payments person portion premiums paid prior prop provisions purchase qualify rates received regulations rule share shareholders surviving spouse tax law tax purposes tax-exempt taxable income taxation taxpayer tenancy terminable tion transfer trust income trust instrument wife