Federal Tax

  • 1.  Federal estate tax audit

    Posted 08-09-2016 11:14 AM

    I have filed a New Jersey Inheritance tax which included transfers made in the last 3 years which included non taxable gifts.  The IRS auditor claims that I have to reduce the deduction for the state death taxes claimed on the 706 because it was based on transfers (non taxable gifts) that were not included on the 706.  Is the IRS auditor correct.  The instructions for the 706 don't mention anything about adjusting the state death tax for that reason.  Any advise would be greatly appreciated.

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    Joseph Schnitzer
    CPA
    JOSEPH SCHNITZER, CPA PC
    Woodmere NY
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