marital deduction

marital deduction definition - business

marital deduction

The deduction for tax purposes of property transferred between spouses. For estate and gift purposes, all property transferred between spouses is free of federal taxation.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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