GLOSSARY · TAX & ESTATE
Portability
The election that lets a surviving spouse add the part of the deceased spouse's estate tax exemption that went unused. It is made by filing an estate tax return (Form 706) for the first spouse, even when no tax is owed, and is lost if no return is filed in time.
Also called: deceased spousal unused exclusion, DSUE, portability election
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CHAPTER · LEGACY & PHILANTHROPY PLANNING · STRATEGIESGifts, Estate Tax and Passing Wealth Across GenerationsRELATED TERMS
SOURCES
- What's new: Estate and gift tax. Internal Revenue Service.