Sentences with phrase «succeeding taxable years»

If, however, you opted to receive a single payment, 10 % of the gain recognized for federal purposes in the year that the payment was received may be deducted in the following year and in each of the 9 succeeding taxable years.

Not exact matches

For the transfer technique to succeed in removing the death benefit from the taxable estate, the original owner must survive the transfer by three years.