California Code of Regulations
Title 18 - Public Revenues
Division 2.5 - State Controller
Chapter 1 - Inheritance Tax
Article 6.1 - Deductions
Section 13983.2 - Joint and Several Obligation

Universal Citation: 18 CA Code of Regs 13983.2
Current through Register 2024 Notice Reg. No. 12, March 22, 2024

Ordinarily, only one-half of the amount of the unpaid portion of a joint and several obligation of the decedent and another person is allowable as a deduction in the decedent's estate, where the decedent and such other person received equal benefits from the consideration received for the obligation.

If in fact the decedent was the principal obligor of a joint and several obligation entered into between himself and another, the latter being a mere surety on the obligation, the entire amount of the unpaid portion of the obligation is allowable as a deduction. On the other hand, if the decedent was the surety and the other person the principal obligor, no part of the obligation is ordinarily allowable.

NOTE: Reference: Section 13983, Revenue and Taxation Code.

Disclaimer: These regulations may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.