EST26101. Basics of Fiduciary Income Taxation

**INCLUDED IN ALL-ACCESS PASS | IN PERSON ONLY**

Reviews the basics of the income taxation of estates and trusts including the distribution system and potential elections available to the fiduciary

Learning Objectives:

• Learn what sections of the Internal Revenue Code govern the income taxation of estates and trusts.
• Learn 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.
• Learn the ditribution system for trusts and estates and how the distribution system governs who gets taxed and what they get taxed on.
• Learn the elections that are available to fiduciaries to minimize the tax consequences to estates and trusts and their beneficiaries.