Fiduciary Income Taxation | T4125
This course covers the federal income taxation of estates and trusts. Included is a discussion of the concept of an estate or trust; trust accounting income for a simple and complex trust; calculation of taxable income, including special rules on the calculation of distributable net income, capital gains, personal exemptions, and charitable contributions; the separate share rule and trapping distributions; income in respect of a decedent; the grantor trust rules under sections 671-678; trust ownership rules for subchapter S stock; and the calculation of the alternative minimum tax. This class is a co-requisite or pre-requisite for Estate Planning. Estate & Gift Taxation is highly recommended before taking this course.
Credit Hours: 2
ULW: This course does not satisfy the Upper Level Writing requirement (ULW)