0      0

AICPA National Tax & Sophisticated Tax Conferences with Private Foundation Summit 2020


SOP2003 - Trusts Owning Interests in Partnerships, S Corporations and IRA


Nov 16, 2020 12:15pm ‐ Nov 16, 2020 1:05pm

Description

This session will review the tax and administration issues of a trust owning an interest in a partnership, S corporation or IRA. Among the issues reviewed will be what trusts are eligible S corporation shareholders, how the S corporation or partnership taxable income is reported and how the ownership of such an interest affects trust accounting income and distributable net income, as well as a discussion of the treatment of passive activity losses arising from the ownership of such interests. The session will also cover the tax and administration issues of a trust owning an IRA including qualification of such an interest for the estate tax marital deduction, how IRA distributions are allocated between income and principal and how distributions from an IRA affect the calculation of DNI.

Learning Objectives:
  • Learn the how distributions from partnerships, S corporations and IRA affect the calculation of TAI and DNI and taxable income
  • Learn how distributions from partnerships and S corporations can result in "phantom" income to an estate or trust.

Speaker(s):

  • Jeremiah Doyle, BS (Accounting), JD, LL.M. (Taxation), LL.M. (Banking Law), SVP/Family Wealth Strategist, BNY Mellon Wealth Management
Tags: SOP
Category: Concurrent Session (Online)

You must be logged in and own this session in order to post comments.

Print Certificate
Completed on: token-completed_on
Print Transcript
Please select the appropriate credit type:
/
test_id: 
credits: 
completed on: 
rendered in: 
* - Indicates answer is required.
token-content

token-speaker-name
token-index
token-content
token-index
token-content
token-index
token-content
token-index
token-content
token-index
token-content
token-index
token-content
/
/
token-index
token-content
token-index
token-content