Examples of Qualified terminal in a sentence
Qualified terminal interest property (QTIP)Qualified business income (QBI)Deduction, 228–230, 507–508, 527–528Qualified deferred compensation plans, 183–184 Qualified entertainment, 277–278Qualified residence interest expense, 220, 221 Qualified retirement plans.
Qualified terminal interest property (QTIP)Qualified business income (QBI) Deduction, 233–235, 514–515, 533–535Qualified deferred compensation plans, 182 Qualified entertainment, 283–284Qualified residence interest expense, 224, 225 Qualified retirement plans.
Qualified terminal interest property, known as a “QTIP,” is typically a trust under which the surviving spouse receives a “qualifying income interest” in the trust for life, and the surviving spouse makes an election to have the property qualify for QTIP treatment.