MICHAEL T. YU, Deductions in Proposed Calculation and Allocation of Distributable Net Income to the Separate Share of a Trust or Estate, 5 Pittsburgh Tax Review 123 (2007-2008)MICHAEL T. YU, Deductions in Proposed Calculation and Allocation of Distributable Net Income to the Separate Share of a Trust or Estate, 5 Pittsburgh Tax Review 123 (2007-2008)
Michael T. Yu's Deductions in Proposed Calculation and Allocation of Distributable Net Income to the Separate Share of a Trust or Estate is of interest to preparers of fiduciary income tax returns who bump up against the so-called separate share income tax regulations. The separate share rules mandate special tax treatment for shares of trusts and estates when differing economic interests of different
MICHAEL J. JONES
Michael T. Yu's “Deductions in Proposed Calculation and Allocation of Distributable Net Income to the Separate Share of a Trust or Estate” is of interest to preparers of fiduciary income tax returns who bump up against the so-called “separate share” income tax regulations. The separate share rules mandate special tax treatment for shares of trusts and estates when differing economic interests of different beneficiaries exist. Yu, an associate professor of law at California Western School of Law, shows those rules don't always add up. But Yu doesn't stop at exposing how this can happen; he also goes on to propose a way to work within the rules.
The overarching goal of Internal Revenue Code Section 663(c) is to subject separ...
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