Kansas Administrative Regulations

Regulation Number:92-2-61
Agency Title: KANSAS DEPARTMENT OF REVENUE
Article Title: Inheritance Taxes
Tax Type:Inheritance Tax
Brief Description:Qualified terminable interest property election.
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92-2-61 Qualified terminable interest property election. (a) A qualified terminable interest property election shall be made on form IH 80, Kansas inheritance tax return for estates filing federal estate tax returns, or form IH 90, Kansas inheritance tax return for estates not filing federal estate tax returns, and by attaching or including information sufficient to identify the particular assets or groups of assets subject to the election. A qualified terminable interest property election may be made without regard to the filing of, or making of a similar election on, a federal estate tax return. The election shall be irrevocable once it is made.
(b) Elections, including less than all qualified property, shall be allowed. If a partial election is made, a computation schedule or other information sufficient to identify the particular assets or groups of assets subject to the partial election shall be included. If identification of particular assets is not possible, the dollar amount, or percentage, of all assets subject to the election shall be indicated. (Authorized by K.S.A. 79-1583; implementing K.S.A. 79-1537d; effective May 1, 1986.)