Computation of the inclusion ratio. T transfers $100,000 to a newly-created irrevocable trust providing that income is to be accumulated for 10 years. At the end of 10 years, the accumulated income is to be distributed to T's child, C, and the trust principal is to be paid to T's grandchild. made no prior gifts to or for the benefit of GC during 1996. The entire $10,000 transfer is a nontaxable transfer. For purposes of computing the tax on the direct skip, the denominator of the applicable fraction is zero, and thus, the inclusion ratio is zero.
proke â(third-person singular simple present prokes, present participle proking, simple past and past participle proked) (obsolete) To poke; to thrust. (Can we find and add a quotation of Holland to this entry?)
Full Definition of CONVOKE. transitive verb. : to call together to a meeting. See convoke defined for English-language learners. See convoke defined for kids.ull Definition of CONVOKE. transitive verb. : to call together to a meeting. See convoke defined for English-language learners. See convoke defined for kids.