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Federal Income Taxation of Estates, Trusts, and Beneficiaries
Federal Income Taxation of Estates Trusts and Beneficiaries Author:M. Carr Ferguson, Mark L. Ascher 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. ... more » You'll find incomparably detailed transactional analysis of all these matters and more: * 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 deduction affects DNI
* Mandatory and discretionary distributions
* The throwback rule
* Grantor trusts
* Split-interest charitable trusts
* Intersection of passive activity rules with Subchapter J. Of special value is the in-depth discussion of the executor's personal liability for the decedent's or estate's taxes, with authoritative guidance on the steps you should take to minimize, shift, or terminate it.« less