
What are Income in Respect of a Decedent (IRD) and the IRD deduction?
First off, “in respect of” is a bit archaic. IRD is simply ‘income concerning a decedent’. To recap, an individual’s taxable year ends with her
First off, “in respect of” is a bit archaic. IRD is simply ‘income concerning a decedent’. To recap, an individual’s taxable year ends with her
In short, they are qualified to allow an election between making them part of the estate or have them be their own taxable entity. To
We have discussed Income with Respect to a Decedent (IRD) at length, see for example What counts as Income in Respect to a Decedent? IRD
The IRS requires the filing of an income tax return for trusts and estates on Form 1041 — formerly known as the fiduciary income tax
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