by Antebellum South » Fri May 29, 2009 1:21 pm
by Galloism » Fri May 29, 2009 1:22 pm
Antebellum South wrote:Heterosexual married couples enjoy certain financial benefits such as exemption from the inheritance tax.
by Antebellum South » Fri May 29, 2009 1:27 pm
by Gauntleted Fist » Fri May 29, 2009 1:28 pm
I don't think anyone gets exempted from that tax.Galloism wrote:Antebellum South wrote:Heterosexual married couples enjoy certain financial benefits such as exemption from the inheritance tax.
No they don't. They do get certain bonuses and exemptions, but that one ain't one of em.
by Galloism » Fri May 29, 2009 1:28 pm
Antebellum South wrote:Fixed.
by Galloism » Fri May 29, 2009 1:29 pm
Gauntleted Fist wrote:I don't think anyone gets exempted from that tax.
by Gauntleted Fist » Fri May 29, 2009 1:30 pm
My statement could have been worded better, yes.Galloism wrote:Under current law, $3.5 million this year. Any estate worth less than that doesn't even have to fill out the form.
by Galloism » Fri May 29, 2009 1:31 pm
Gauntleted Fist wrote:My statement could have been worded better, yes.Galloism wrote:Under current law, $3.5 million this year. Any estate worth less than that doesn't even have to fill out the form.
by Farnhamia Redux » Fri May 29, 2009 1:34 pm
Galloism wrote:Gauntleted Fist wrote:My statement could have been worded better, yes.Galloism wrote:Under current law, $3.5 million this year. Any estate worth less than that doesn't even have to fill out the form.
Well, I just factually correct things out of habit.
By the way, that doesn't change regardless of marital status of the deceased or the recipient, so I have no idea what this thread is about.
by Galloism » Fri May 29, 2009 1:38 pm
Farnhamia Redux wrote:Good point. When you inherit something from your spouse, you are - not even technically - single.
by Cameroi » Fri May 29, 2009 1:42 pm
by Dolbri » Fri May 29, 2009 1:43 pm
Galloism wrote:Farnhamia Redux wrote:Good point. When you inherit something from your spouse, you are - not even technically - single.
Technically, you're married until the end of the year in which your spouse died.
WTF thing of the day:
If your spouse dies in the middle of the year, you can consider yourself married to your spouse for the whole year, and file a joint tax return. You must write "Deceased" in the signature line.
If your spouse dies and you get remarried before the end of the year, you are considered married to your new spouse for filing purposes, but your dead spouse is still considered married to you. Therefore, you should file married filing joint with your new spouse, while the dead one has to file married filing separately - not single.
This is the only case where one spouse can itemize deductions without affecting the tax return of the other spouse. If you itemize, then your dead spouse must also itemize. However, if your dead spouse itemizes, you do not have to itemize.
Ah, I love discussing tax law in the morning.
by Galloism » Fri May 29, 2009 1:56 pm
Dolbri wrote:After reading this, I think I prefer the smell of napalm.
by South East Europe » Fri May 29, 2009 1:59 pm
by Dyakovo » Fri May 29, 2009 2:07 pm
South East Europe wrote:We really don't need another thread when there is already an active thread on this forum discussing the same exact issue.
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