EST2306. Tax Issues That Arise When a Shareholder or Partner Dies

When an owner of a passthrough entity dies, certain tax implications may arise on both the individual and entity level. This presentation examines the various federal income tax issues to be mindful of in these circumstances. The discussion first focuses on the effect of a partner's death on a Subchapter K partnership, then examines the consequences of a shareholder's death on a Subchapter S corporation, and finally looks at the tax effects of death for the individual owner and the owner's estate and/or trust.

Learning Objectives:

• Recognize required actions before and after the death of an owner​
• Identify planning opportunities for owners of S Corporations & Partnerships
• Understand the factors that determine material participation for a trust or estate