To manage the tax burden of a complex trust, trustees can use the “Day Rule” (also called a (b) election) to make distributions to trust. Because fiduciaries have 65 days after year-end to make (b) election distributions, fiduciaries are afforded some flexibility as to the timing of. A fiduciary may make the election for only a partial amount of the distribution(s) within the day period, but once made the election is.
What Every Trustee Should Know About Making the Election To Use the 65 Day Rule. February 19, by Law Offices of Spadea & Associates, LLC Leave a. This is the section (b) election, commonly referred to as the Day Rule Election. This election will allow the trustee or executor to make a. What Every Trustee Should Know: the 65 Day Rule Making this election can often help to lower the overall tax burden of the trust and its.
A fiduciary may make the election for only a partial amount of the distributions within the day period, but once the election is made, it is. (b)-1 - Distributions in first 65 days of taxable year; scope. (ii) If an election is made with respect to a taxable year of a trust, this section shall (3 ) The fiduciary elects (as provided in § (b)-2) to have section (b) apply. Deadline Approaches for Distributions Eligible for Day Election by while there is still time to make distributions that can be treated as. The 65 day election can only be made for complex trusts or estates, Making this election would reduce the trust's taxable income by the.
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