In general, an individual may allocate
a GST exemption to transfers at any time on or before the due date for filing a Federal estate tax return for his estate under Sec.
7523 are structured to allocate
liabilities to partners who generally would be allocated income or gain on the relief of such liabilities.
Users can automatically calculate allocations based on the relative account balances of specified accounts, a feature that will be of value, for example, to foundations and agencies who allocate
grant interest income among specified accounts.
As shown in Example 2, if a GST tax exemption is intended to be allocated but is not, and substantial appreciation occurs before the failure to allocate
is discovered and corrected, the economic damage suffered by the family can be great.
If the trust corpus appreciates to $2,000,000 by the due date of the gift tax return on which the gift is reported, it may be wise to allocate
the GSTT exemption to the trust on the return; each dollar of exemption so allocated effectively exempts property now worth $2.
The donor, however, is allowed to make an election not to allocate
the GST exemption to the gift and to pay the GST tax currently.
$5,000 of G's recognized gain to goodwill.
The final regulations continue the theory that it is appropriate to allocate
nonrecourse liabilities in accordance with how the partners share profits.
1 now delivers dynamic LUN assignment, an advanced timesaving capability that dynamically allocates
server storage resources "on the fly" without interrupting critical applications.
23) A rental agreement allocates
fixed rent only if the rental agreement unambiguously specifies, for periods of no longer than a year, a fixed amount of rent for which the lessee becomes liable on account of the property during that period, and the total amount of fixed rent specified is equal to the total amount of fixed rent payable under the lease.
40% of physicians feel that President Bush's plan allocates
too much funding for treatment rather that prevention, however, 31% of physicians believe that the proper amount is being allocated for both treatment and prevention.
Any method that does allocate
costs to specific inventory items may be compared to any other permissible method that allocates
costs to specific inventory items to determine reasonableness (this is hardly ever the case).