Estate, Trust, and gift taxation

  • Creator
    Topic
  • #186503
    Anonymous
    Inactive

    Could someone please sum up what are the key points I need to know in the estate, trust , and gift taxation topic? I am working on this topic and I am so confused.

    Thank you.

Viewing 2 replies - 1 through 2 (of 2 total)
  • Author
    Replies
  • #577591
    jeff
    Keymaster

    I think the NINJA Notes sum them up decently well 🙂

    AUD - 79
    BEC - 80
    FAR - 76
    REG - 92
    Jeff Elliott, CPA (KS)
    NINJA CPA | NINJA CMA | NINJA CPE | Another71
    #577592

    For gift, generally you need to remember the 14,000 deduction when give out gift.

    Estate and Trust are two entities.

    Trust has simple trust and complex trust.

    Estate has distributable income, which the part is deducted from estate when distributed and taxable to beneficiary. Estate has a final exemption amount of 5,340,000 (previous year is 5,250,000.

    I think the above are the most important parts……

    BEC: (07/13) 79-->done
    AUD: (08/13) 62, (03/14) 68, (11/14)--?
    REG: (05/14) 74, (07/14) 72, (10/14) 79-->done
    FAR: (08/14) 80-->done

Viewing 2 replies - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.