Bulletin No. 2016–42 October 17, 2016
ESTATE TAX
Internal Revenue Bulletin 2016-42 · 2026-10-03 edition · updated 2026-10-04 · United States
Rev. Proc. 2016–49, page 462. This guidance provides procedures to disregard and treat as null and void for transfer tax purposes a qualified terminable interest property (QTIP) election in situations where the QTIP election was not necessary to reduce the estate tax liability to zero. This guidance provides that such procedures are unavailable where QTIP elections are made in estates in which the executor elected portability of the deceased spousal unused exclusion (DSUE) amount under § 2010(c)(5)(A). This guidance modifies and supersedes Rev. Proc. 2001–38, 2001–1 C.B. 1335.
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