What is Distributable Net Income (DNI)?
Distributable Net Income is a tax law term that has a specific application in the taxation of estates and trusts and their beneficiaries. Trusts get
klaus.gottlieb
October 31, 2021
What is meant by the uniform basis rule?
We have learned elsewhere that the tax basis for gifts carries over to the recipient, in contrast acquisitions from a decedent get a new tax
klaus.gottlieb
October 30, 2021
How is community property valued for the surviving spouse? The ‘full-step up’.
Summary and Background “Bifurcated” describes the two-pronged approach in the taxation of property received as a gift or inheritance. In simple terms, if you receive
klaus.gottlieb
October 28, 2021
Who pays gift taxes and how much?
The recipient does not pay gift tax Receipt of a gift or bequests is not taxed, in other words, the value of property so received
klaus.gottlieb
October 28, 2021
Step-Up in Basis and Dual Basis Rule: A Guide for the Perplexed
When it comes to estate and gift planning, one of the most important tax considerations is the cost basis of assets transferred to someone else—whether
klaus.gottlieb
October 28, 2021
What’s the difference between a grantor and non-grantor trust?
Trusts can be classified in a number of different ways. The terms grantor and non-grantor trust are related to the status of the trust as
klaus.gottlieb
October 27, 2021
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