Glossary entry

English term or phrase:

elect to treat or use an item

Polish translation:

zdecydować, czy traktować lub wykorzystać dany składnik majątkowy jako

Added to glossary by Frank Szmulowicz, Ph. D.
Mar 27, 2019 19:57
5 yrs ago
2 viewers *
English term

elect to treat or use an item

English to Polish Law/Patents Law: Taxation & Customs
Jest to fragment testamentu (USA): "elect to treat or use an item, for either federal or state tax purposes, as either an income tax deduction or as a deduction for estate or inheritance tax purposes"

Jeden z obowiązków wykonawcy testamentu.
Change log

Mar 28, 2019 20:36: Frank Szmulowicz, Ph. D. Created KOG entry

Proposed translations

+1
6 hrs
Selected

zdecydować, czy traktować lub wykorzystać dany składnik majątkowy jako

propozycj
Peer comment(s):

agree mike23
4 hrs
Dziękuję Michale. Serdecznie pozdrawiam.
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4 KudoZ points awarded for this answer. Comment: "Dziękuję!"

Reference comments

40 mins
Reference:

elect to treat or use an item

6.2 Taxes. I authorize my executor to make the following choices or elections in my executor’s absolute discretion, regardless of the effect on any other provisions of this Will or on any person interested in my estate or in the amount of any of the taxes referred to: (a) choose a valuation date for estate or inheritance tax purposes or choose the methods to pay estate or inheritance taxes; (b) elect to treat or use an item, for either federal or state tax purposes, as either an income tax deduction or as a deduction for estate or inheritance tax purposes; (c) determine when a particular item is to be treated as taken into income or used as a deduction, to the extent the law provides that choice; and (d) disclaim all or any portion of any interest in property passing to my estate at or after my death, even though any of these actions may subject my estate to additional tax liabilities. No person adversely affected by my executor’s exercise of discretion under this clause is entitled to any reimbursement or adjustment, and my executor is not required to make any adjustment between income and principal or in the amount of any property passing under this Will as a result of my election under this provision
Peer comments on this reference comment:

agree mike23
10 hrs
Dziękuję Michale. Zawsze jest dobrze mieć szerszy kontekst przed sobą.
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