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for QTIP interests. Estate of Nicholson v. Commissioner, supra
at 672. A QTIP interest is one in which a decedent passes to the
surviving spouse a “qualifying income interest for life” and for
which an election has been made. Sec. 2056(b)(7)(B)(i);6 Estate
of Nicholson v. Commissioner, supra. Generally, when the
surviving spouse has a “qualifying income interest for life”, she
6 Sec. 2056(b)(7)(B), in pertinent part, provides:
(7) Election with respect to life estate for surviving
spouse.--
* * * * * * *
(B) * * * For purposes of this paragraph--
(i) In general.--The term “qualified
terminable interest property” means
property–
(I) which passes from the decedent,
(II) in which the surviving spouse
has a qualifying income interest for
life, and
(III) to which an election under
this paragraph applies.
(ii) Qualifying income interest for
life.--The surviving spouse has a qualifying
income interest for life if--
(I) the surviving spouse is
entitled to all the income from the
property, payable annually or at more
frequent intervals, * * * and
(II) no person has a power to
appoint any part of the property to any
person other than the surviving spouse.
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