Generation-Skipping Transfer Tax 2024

Overview

This advanced course is designed to complement the 4-part 706 Preparation Series and will discuss various aspects of the Generation-Skipping Transfer Tax.

Highlights

• Taxable terminations
• Mismatch between available exemption and GST, and utilizing excess GST
• GST elections on Form 709 and automatic allocations

Prerequisites

Completion of the Form 706 Preparation 4-part series is encouraged.

Designed For

CPAs and attorneys who work extensively with Estate plans and the Generation-Skipping Transfer Tax.

Objectives

• Determine the application of the GST rule and when the tax is triggered.
• Recognize transfers that trigger GST and when to automatically allocate GST (or elect out) in gifting.
• Identify common pitfalls.

Preparation

Working knowledge of Forms 706 and 709.

Notice

This course is offered by a 3rd party vendor. Login instructions will not be accessible in the My CPE Tracker section of the ISCPA website. Login instructions will be emailed directly to you by California Education Foundation (CalCPA).