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The amount elected to be treated as a prior year

distribution under IRC Section 663(b):Should...
The amount elected to be treated as a prior year distribution under IRC Section 663(b):Should normally be zero since trusts and estates have more favorable tax brackets than do individuals.Is limited to amounts actually paid or credited during the 65 days after the end of the trust's or estates tax year.Can be more than distributable net income than the tax year in questionMust be consented to by any beneficiary whose K-1 is affected by the election.
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3/25/2018
Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
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limited to amounts actually paid or credited during the 65 days after the end of the trust's or estates tax year.
Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,269
Experience: Adjunct Professor
Verified
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