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Questions and Answers
Which deduction is disallowed for distributions to noncitizen spouses?
Which deduction is disallowed for distributions to noncitizen spouses?
- Unlimited marital deduction (correct)
- Estate tax deduction
- QDOT deduction
- QTIP election deduction
What is the purpose of a QDOT?
What is the purpose of a QDOT?
- To provide income distributions to the noncitizen spouse
- To allow unlimited marital deduction
- To postpone estate tax (correct)
- To withhold estate tax on QDOT distributions
What are the requirements for a QDOT?
What are the requirements for a QDOT?
- At least one trustee must be a US citizen (correct)
- The QDOT must be established before the death of the noncitizen spouse
- The US trustee must have power to withhold income tax
- At least one trustee must be a noncitizen
How are income distributions from a QDOT taxed?
How are income distributions from a QDOT taxed?
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What is the purpose of a hardship exemption for QDOT distributions?
What is the purpose of a hardship exemption for QDOT distributions?
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