Federal Income Tax of Trusts/Estates

Semester: Spring 2015
Course ID: 254U
Credit Hours: 2
Unique: 28410

Course Information

Grading Method: Pass/Fail Allowed (JD only)

Registration Information

Upperclass-only elective
Reversed priority

Meeting Times

Day	Time	Location
MON, TUE	1:15 - 2:05 pm	TNH 3.115

Evaluation Method

Type	Date	Time	Location
Final exam	May 14, 2015	8:30 am	A-Z in 2.124

Description

This two-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. Prerequisite: FIT. Prerequisite/co-requisite: Wills and Estates.

Textbooks ( * denotes 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

Federal Estate & Gift Taxes: Code & Regulations, Including Related Income Tax Provisions *

CCH

Wolters Kluwer , edition: March 1, 2014
ISBN: 978-0-8080-3657-9

Instructors

Ascher, Mark L.