Federal Income Taxation of Estates, Trusts, and Beneficiaries

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:

* 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.