Mastering NIIT for Trusts and Estates: Net Investment Income Tax Planning Strategies to Minimize Surtax
Reporting Requirements, DNI Deductions, Income Thresholds for ESBTs, Material Participation Rules and More
Recording of a 110-minute CPE webinar with Q&A
This course will provide tax preparers and advisers with a comprehensive and practical guide to the planning and reporting issues in the imposition of IRC Section 1411 net investment income tax (NIIT) on trusts and estates. The panel will discuss how to calculate NIIT for reporting on a Form 1041 Income Tax Return, offer guidance on material participation rules, and identify planning tools for minimizing the impact of the NIIT on trust or estate income.
Outline
- Definition and scope of IRC 1411 impact on trusts and estates
- Calculation of NIIT on trust undistributed net income
- Material participation and other mitigating factors to reduce impact of NIIT
- Determining whether trust documents permit capital gains to be included in DNI
- Electing small business trusts and NIIT
- Planning strategies
Benefits
The panel will discuss these and other important topics:
- Calculating distributable net income deduction for purposes of reporting NIIT
- Determining whether capital gains can be treated as DNI for NITT calculations
- Minimizing NIIT impact through distribution and other transaction strategies
- Reporting the NIIT on Form 8960
- Impact of NIIT calculations on electing small business trusts (ESBTs)
Faculty
Matthew E. Rappaport, Esq., LL.M.
Mr. Rappaport counsels clients on technical and complex tax issues. He works closely with closely held business owners,... | Read More
Mr. Rappaport counsels clients on technical and complex tax issues. He works closely with closely held business owners, real estate investors/developers, and high net worth families. He advises clients on a wide array of issues including, generational wealth transfer, family business succession, tax structuring of mergers, acquisitions and reorganizations of business entitites, windfall planning for major liquidity events, tax provisions of operating agreements, 1031 Exchanges, conversion of investment real estate, and audits hinging on the outcome of a highly technical issue.
CloseMichele Schlereth, CPA, J.D., MST
Senior Tax Manager
Baker Tilly Virchow Krause
Ms. Schlereth advises clients regarding all aspects of taxation with a concentration in trusts and estates. Her areas... | Read More
Ms. Schlereth advises clients regarding all aspects of taxation with a concentration in trusts and estates. Her areas of expertise include, but are not limited to succession planning including estate and gift, trust, private foundation, individual, small businesses, and investment partnerships. She is also responsible for high net worth families' business, individual, trust, foundation, and gift tax returns.
Close