ENG2417. Advanced Fiduciary Income Tax (EST, TAX)

This session will tackle advanced concepts of the income taxation of estates and trusts, including the tier system, the separate share rule, when gains are included in distributable net income, the tax consequences of funding bequests, the Section 642(c) income tax charitable deduction, how to recognize a foreign trust, the death of an income beneficiary, how to handle an IRA payable to a trust, the disposition of a passive loss activity, the 3.8% surtax and, if time permits, more.

Learning Objectives:

• Analyze some of the frequently encountered complexities of the income taxation of estates and trusts.
• Assess complex issues and how to resolve those issues.
• Identify the distribution system and how distributable net income gets allocated between the entity and the various beneficiaries.