Federal Income Tax of Trusts/Estates

This three-hour course examines the Federal income taxation of estates, trusts, grantors, and beneficiaries, as prescribed by Subchapter J of the Internal Revenue Code. In particular, this course focuses on how the income taxation of estates and trusts differs from that of individuals. Central topics include distributable net income (DNI), the distribution deduction, the grantor trust rules, and income in respect of a decedent (IRD). This is an advanced course that assumes familiarity with basic principles of Federal income taxation. Therefore, each student who enrolls in this course must already have completed FIT or have had substantially comparable training or experience. Students may not satisfy this requirement by taking FIT simultaneously. Students should also have taken or currently be taking Wills and Estates. This course is to be distinguished from Federal Estate and Gift Tax, which does not involve income taxation, but, instead, the taxation of wealth transfers. Prereq: Law 254J, 354J, 454J, or 554J (Federal Income Taxation) Prerequisite/co-requisite: Wills and Estates.


Class Details

Meeting Days Time Location
Monday, Tuesday, Wednesday 2:15 - 3:05 pm TNH 2.139
Exam Type Date Time Alpha Range Room
Final 5/3/18 8:30 am A-Z
2.124

Additional Information

Course Type
Grading Method
Pass/Fail Not Allowed
Will use floating mean GPA if applicable

Textbooks

  • Federal Estate & Gift Taxes: Code & Regulations, Including Related Income Tax Provisions - Wolters Kluwer Editorial Staff
      Wolters Kluwer , edition: 2017
      ISBN: 978-0-8080-4282-2   (required)
  • Federal Income Taxation of Trusts and Estates: Cases, Problems and Materials - Ascher & Danforth
      Carolina Academic Press , edition: 3rd 2008
      ISBN: 978-1-59460-564-2   (required)