ENG2617. Advanced Income Taxation of Estates and Trusts (EST, TAX)

This session will take the attendee beyond the basics and explore the more complex situations that a practitioner may encounter. Among the topics to be discussed are including capital gains in distributable net income (DNI), dealing with the fiduciary income tax deduction under Section 642(c), the income tax issues of funding bequests, how to calculate and allocate DNI on the death of a beneficiary, dealing with estates and trusts holding interests in partnerships and S corporations, and more.

Learning Objectives:

• Interpret how to handle the allocation of distributable net income (DNI) when an estate or trust beneficiary dies.
• Assess how the income from a partnership or S corporation is handled when the estate or trust holds an interest in a partnership or S corporation.
• Evaluate the technicalities of qualifying for a fiduciary income tax charitable deduction.
• Assess how to avoid mistakes when dealing with estates and trusts with complex assets.