taxable estate
A decedent’s gross estate reduced by allowable deductions (such as administration costs and ESOP deductions). IRC (26 USCA) ¡ì 2051.
? The taxable estate is the amount that is subject to the federal unified transfer tax at death. [Cases: Internal Revenue 4168¨C4182.30. C.J.S. Internal Revenue ¡ì¡ì 500, 512, 525¨C538, 541¨C546.]
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