ACCT 6613 - Federal Income Taxation of Estates and Trusts

Prerequisite: ACCT 6601. This course focuses on Subchapter J of Chapter I of the Internal Revenue Code (IRC §§ 641-692), which provides the rules for apportioning the tax liability from the income of an estate or trust between the entity and its grantors and beneficiaries. There will be detailed consideration of the conduit nature of estates and trusts, including DNI rules, the tier rules, differing treatment of simple and complex trusts, and a close analysis of the taxation of grantor trusts, including discussion of the planning opportunities presented through the use of such vehicles. 3 credits.