Tax Facts

866 / What is the Section 2014 foreign death tax credit that can be taken against the federal estate tax?

A foreign death tax credit is provided for United States citizens and residents. The credit applies to property which is subject to both federal and foreign death taxes.1 However, if there is a treaty with the foreign country levying a tax for which a credit is allowable, the executor may elect whether to rely on the IRC credit provisions or the treaty provisions.

1. IRC § 2014.

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