“This book is essential to my practice and an invaluable reference tool. It’s the next best thing to having Blattmachr on speed dial.”
– Charles M. Sarowitz, Sarowitz Milito & Company, CPAs
Blattmachr on Income Taxation of Estates and Trusts offers comprehensive analysis of federal taxation of estates and trusts.
You’ll find vital information on:
- how to accurately complete a decedent’s final return,
- the taxation of foreign trusts, simple and complex trusts, and charitable lead trusts,
- income tax issues that must be addressed when using revocable trusts as an estate planning vehicle to avoid probate and increase confidentiality,
- how income in respect of a decedent is taxed,
- the taxation of estates and trusts as S corporation shareholders, and
- the classification of land trusts as not trusts at all.
Written by authorities with more than seventy years of combined experience in the field, Blattmachr on Income Taxation of Estates and Trusts provides in-depth discussion of:
- tax depreciation and depletion deductions of property held by an estate or trust,
- income tax deductions for net operating losses for estates and trusts,
- income tax deductions related to qualified production activities income, and
- income tax deductions. for federal estate taxes attributable to the right to the income in respect of the decedent.
Filled with practical pointers, this book describes audits of fiduciary income tax returns, emphasizing the primary issues that the IRS focuses on. A 1041 sample worksheet and instructions, as well as a checklist for fiduciary income tax pick-ups are included.