Unlimited Marital Deduction


Definition of "Unlimited marital deduction"

Judith Ann New GRI,ABR,CDPE,CIAS,IRES,ATWD,ACCRS,RSPS real estate agent
Judith Ann New GRI,ABR,CDPE,CIAS,IRES,ATWD,ACCRS,RSPS, Real Estate Agent RE/MAX Realty Team

Deduction allowed for gifts and bequests to a spouse for federal estate and gift tax purposes. Under the Economic Recovery Tax Act of 1981 (ERTA), the deduction became unlimited. Prior to this, there was a dollar and percentage limitation for the marital deduction.

 

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