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Advanced 1041

‐ Jul 28, 2010 11:00am

Credits: None available.

Fiduciary income tax is probably the most complicated and least understood portion of the Internal Revenue Code. Walk through some of the most frequent day-to-day issues encountered by the CPA including:
- The application of the passive loss rules to estates and trusts
- Handling partnerships and S corporations on a fiduciary income tax return
- Income in respect of a decedent and the Section 691(c) deduction
- The fiduciary income tax charitable deduction and when a trust or estate is entitled to the deduction
- The effect of the death of a beneficiary on the distribution of distributable net income
- Handling excess deductions, NOLs and capital loss carryovers on termination of an estate or trust
- When capital gains are included in distributable net income
- Operation of the separate share rule



Credits: None available.

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