How fo you elect portability? 1) the election is made by checking the bix on sch

Question

How fo you elect portability? 1) the election is made by checking the bix on schedule M form 706 2) election made by filing a form 706 in a timely manner for the first spouse to die How fo you elect portability? 1) the election is made by checking the bix on schedule M form 706 2) election made by filing a form 706 in a timely manner for the first spouse to die How fo you elect portability? 1) the election is made by checking the bix on schedule M form 706 2) election made by filing a form 706 in a timely manner for the first spouse to die 1) the election is made by checking the bix on schedule M form 706 2) election made by filing a form 706 in a timely manner for the first spouse to die

Explanation / Answer

Elect Portability

Answer is 2) election made by filing a form 706 in a timely manner for the first spouse to die.

Because

-To servive for spouse need to properly make the election to use the deceased spouse’s unused estate tax exemption, it needs timely file IRS Form 706 for surviving and also Form 706 is due on or before nine months after the deceased spouse’s death

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