Access Leading Tax Experts And Technology
In Our Global Digital Marketplace

Please Type Topic Into Search Bar

Client made a Sec 645 election effective November 2011 to report trust income on the CY estate income tax return. My understanding is that it can only be done for two years., Election was continued on 2012 returns. Do I just do separate estate and trust income tax returns for 2013?

Estate should be considered closed in 2013 anyway, as all assets to be sold were disposed of. Remaining assets are being kept in the trust. The trust is expected to exist for many years.

Must the Section 645 election end after the second calendar year? If so, do I need to attach a statement to the returns regarding the change?
Estate, Gift & Trust Trust

View/Select our Current List of Tax Topics

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Previous PageNext Page



Learn from tax advisors, straight to your inbox

Update My Email Address
Contact Us Today