Federal Income Taxation of Estates, Trusts, and Beneficiaries Book

When you share responsibility for planning and reporting income taxes relating to the transmission of wealth, you can depend implicitly on this often—cited resource. The authors give you easy—to—follow advice on achieving the most favorable tax consequences, as well as informed analysis of current IRS positions and trends for the future.

You'll find incomparably detailed transactional analysis of all these matters and more including:

Preparing the decedent's final return

Income and deduction in respect of a decedent

Problems arising from partnership interests of the decedent

Characterization of amounts in distributable net income (DNI)

Ways to maximize the distribution deduction, with analysis of the latest cases.

How the charitable deductions affects DNI

Mandatory and discretionary distributions

The throwback rule

Grantor trusts

Split—interest charitable trusts

Intersectiion of passive activity rules with Subchapter J.

Of special value is the in—depth discussion of the executori's personal liability for the decedent's or estate's taxes, with authoritative guidance on the steps you should take to maximize, shift, or terminate it.