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I. Introduction
CHAPTER 1: BASIC CONCEPTS AND ISSUES
I. ESTATES
A. Commencement
B.
Duration
C.
Income Taxation
D.
Accounting Method
E.
Taxable Years
F.
Estimated Payments
G. Tax
Return Filing Requirements
H. Tax
Rates
II. TRUSTS
A. Commencement
B.
Duration
C.
Income Taxation
D.
Taxable Years
E.
Estimated Tax Payments
F. Tax
Return Filing Requirements
G. Tax
Rates
H. Election To Treat A Qualified Revocable Trust As Part of the Decedent's
Estate
CHAPTER 2: FIDUCIARY TAX AND ACCOUNTING ISSUES
I. TRUST ACCOUNTING INCOME
II. DISTRIBUTABLE NET INCOME (DNI)
III. NEW REGULATIONS REVISE THE DEFINITION
OF “INCOME” FOR
TRUST PURPOSES
IV. TAXABLE INCOME
CHAPTER 3: INCOME REPORTABLE BY FIDUCIARIES
A. Interest Income
B.
Ordinary Dividend Income
C.
Qualified Dividend Income
D.
Business Income
E.
Capital Gains and Losses
F.
Rents, Royalties, Partnerships, Income from Other Estates and Trusts
G. Farm
Income
H.
Ordinary Gain or Loss (Form 4797)
I.
Other Income
J.
Exclusions from Income Under the Victims of Terrorism Tax Relief Act of
2001
CHAPTER 4: DEDUCTIONS AVAILABLE TO FIDUCIARIES
I. General Rules
II. Specific Items of Deduction
A. Interest Expenses
B.
Taxes
C.
Fiduciary Fees
D.
Charitable Deductions
E.
Attorney, Accountant, Return Preparer Fees
F.
Other Deductions Not Subject to the 2% Floor
G.
Allowable Miscellaneous Itemized Deductions Subject to the 2% Floor
H.
Income Distribution Deduction
I. The
Separate Share Rule Applied to Trusts and Estates
J.
Estate Tax Deduction (Including IRD Items and Certain Generation-Skipping
Taxes)
K.
Exemptions
CHAPTER 5: TAX CALCULATIONS,
CREDITS AND PAYMENTS REFERENCES
A. How To Handle A Loss Incurred By the Trust or Estate
B. How
To Handle Taxable Income Realized by the Trust or Estate
CHAPTER 6: DISTRIBUTIONS; SPECIAL ISSUES AND SITUATIONS
A. The Tier System
B.
Distributions in the Year of Termination
C.
Accumulation Distributions – The Throwback Rules – Partially Repealed
D.
Accumulation Distributions – The Throwback Rules – Where Still Effective
E.
Taxation of Distributions of Principal (Corpus)
CHAPTER 7: TRUSTS and ESTATES
and the ALTERNATIVE MINIMUM TAX
A. General Rules
CHAPTER 8: SPECIAL SITUATION
TRUSTS: CHARITABLE SPLIT-INTEREST TRUSTS
A. General Rules
B.
Charitable Remainder Trusts
C.
Pooled Income Funds
D.
Charitable Lead Trusts
E.
Planning Points
CHAPTER 9: SPECIAL SITUATION TRUSTS: GRANTOR TRUSTS
A.
Overview
B.
Planning Opportunities With Grantor Trusts
CHAPTER 10: SPECIAL SITUATION TRUSTS: QUALIFIED SUBCHAPTER S TRUSTS
A.
General Rules
B.
Planning Situations
C.
Electing Small Business Trusts
D.
Converting from ESBTs to QSSTs, or vice versa
CHAPTER 11: SPECIAL SITUATION TRUSTS: GENERATION-SKIPPING TRUSTS
A.
General Rules
B.
Transfers Giving Rise to the GST Tax
C.
Transfers Excluded From the GST Tax
D. The
GST Tax Exemption
E.
Imposition and Payment of the GST Tax
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