EST26101. Basics of Fiduciary Income Taxation

**INCLUDED IN ALL-ACCESS PASS | IN PERSON ONLY | PRE-REGISTRATION IS REQUIRED**

In this session, participants will review the basics of the income taxation of estates and trusts, including the distribution system and potential elections available to the fiduciary

Learning Objectives:

• Identify what sections of the Internal Revenue Code govern the income taxation of estates and trusts.
• Distinguish the concepts of distributable net income (DNI), trust accounting income (TAI), taxable income (TI), and why they are important and how they differ from each other.
• Analyze the trust and estate distribution system and how it determines who is taxed and the character of income subject to tax.
• Determine elections that are available to fiduciaries to minimize the tax consequences to estates and trusts and their beneficiaries.