Partnership Interests - American Institute of CPAs
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This discussion highlights the significant tax problems that estate and trust administrators face when holding a family partnership interest. Just a few of these include: - Income tax consequences in the year a partner dies - Installment sales of partnership interests to a grantor trust - Determining "fiduciary accounting income" from partnerships - Including partnership capital gain in DNI - Allocating the taxes on partnership income between the trust and beneficiaries - Deducting trust administrative expenses