This two-hour course examines 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 and the law of wills and estates. Therefore, each student who enrolls must already have taken or be taking both FIT and Wills and Estates. Prerequisites/co-requisites: FIT and Wills and Estates.
Textbooks ( * denotes required )
Federal Income Taxation of Trusts and Estates: Cases, Problems and Materials
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Ascher, Mark L. 