26 C.F.R. § 20.2051-1   Definition of taxable estate.


Title 26 - Internal Revenue


Title 26: Internal Revenue
PART 20—ESTATE TAX; ESTATES OF DECEDENTS DYING AFTER AUGUST 16, 1954
Taxable Estate

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§ 20.2051-1   Definition of taxable estate.

The taxable estate of a decedent who was a citizen or resident (see paragraph (b)(1) of §20.0–1) of the United States at the time of his death is determined by subtracting the total amount of the deductions authorized by sections 2052 through 2056 from the total amount which must be included in the gross estate under sections 2031 through 2044. These deductions are in general as follows:

(a) An exemption of $60,000 (section 2052);

(b) Funeral and administration expenses and claims against the estate (including certain taxes and charitable pledges) (section 2053);

(c) Losses from casualty or theft during the administration of the estate (section 2054);

(d) Charitable transfers (section 2055); and

(e) The marital deduction (section 2056).

See section 2106 and the regulations thereunder for the computation of the taxable estate of a decedent who was not a citizen or resident of the United States. See also §1.642(g)–1 of this chapter concerning the disallowance for income tax purposes of certain deductions allowed for estate tax purposes.

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