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Marital deduction |
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Marital deductionA tax deduction that allow spouses to transfer unlimited amounts of property to one another.Marital deduction Similar MatchesDeductionDeductionIn the US, an expense allowed by the Internal Revenue Service which is deducted from adjusted gross income to establish taxable income. These include interest payments and state and local taxes. The equivalent term in the UK is 'tax allowance', and the main one is the 'personal allowance' of tax-free income which every individual is entitled to. Mortgage interest deductionMortgage interest deductionA federal tax deduction for interest paid on a mortgage used to acquire, construct, or improve a residence. Standard deductionStandard deductionThe IRS-specified amount by which a taxpayer is entitled to reduce income an alternative to itemizing deductions. Mortgage interest deductionMortgage interest deductionIn the US, an allowable federal tax deduction for the annual interest paid on a mortgage. Certificate of deduction of taxCertificate of deduction of taxA certificate, issued by a building society or bank (in accordance with Section 352 of the Income and Corporation Taxes Act 1988) to its customers with interest bearing accounts, in which gross interest, tax deducted and net interest are depicted. Further SuggestionsDeductionItemized deduction Dividends received deduction Tax deduction Interest deduction Tax deduction Unlimited marital deduction |
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