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Income Taxation of Domestic Trusts
Trusts and Estates Section; Income Tax Section
Credit(s):
1 Legal Specialization in Estate Planning; Trust & Probate Law
1 Legal Specialization in Taxation Law
1 Participatory MCLE Credits
Trusts and estates are subject to increased tax rates as high as 40.8% on ordinary income as soon as net income exceeds only $12,750 ( in 2019) and 23.8% on qualified dividends and long term capital gains as soon as net income exceeds $12,950 (in 2019). To help practitioners minimize the impact of higher tax rates and avoid many of the traps for the unwary, this program will translate different definitions of income, including fiduciary accounting income, distributable net income and trust taxable income in a clear and concise manner. In addition, this presentation will review the impact of recent tax reform, case law, IRS guidance, and Treasury regulations on the taxation of trusts and estates.
1 Legal Specialization in Estate Planning; Trust & Probate Law
1 Legal Specialization in Taxation Law
1 Participatory MCLE Credits
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