Post-Mortem Tax Election Heaven
A fiduciary faces an intimidating multitude of tax elections – particularly in the context of handling a decedent's estate or post-death revocable trust. It is imperative for a fiduciary to possess the requisite skill to analyze the situation and implement an appropriate tax plan.
In this program, we will examine:
- Election to treat post-death revocable trust as part of the estate (IRC § 645).
- Fiscal year election (IRC § 441).
- Sixty-five day rule election (IRC § 663(b)).
- Election to recognize gain or loss on the distribution of property (IRC § 643(e)).
- QSST election (IRC § 1361(d)(2)) and ESBT election (IRC § 1361(e)(3)).