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www.justanswer.com/tax/0qtn6-taxation-capital-gain...

Reply to Steve's Post: Thanks, Steve. Two clarifications: Who/what is taxed in the final year of the trust? How does taxation at the trust level affect income beneficiary's tax (or vice versa)? In other words, is tax paid twice or is there a credit for tax to income beneficiary for capital gains tax paid by the trust, or vice-versa?

www.irs.gov/pub/irs-wd/0118043.pdf

Under the terms of Trust Agreement, which governs Residuary Trust, Spouse possesses a qualifying income interest in Residuary Trust property for life. Trust Agreement also provides that Decedent’s personal representative has the power to make an election for federal tax purposes to treat any portion or all of Residuary Trust

caselaw.findlaw.com/nj-tax-court/1624818.html

This is the court's opinion regarding the appeal of plaintiff, Residuary Trust A u/w/o Fred E. Kassner, Michele Kassner, Trustee, contesting the deficiency assessment of $192,379 including interest and penalties to March 19, 2009, imposed by defendant, Director of the Division of Taxation (“Director”) under the New Jersey Gross Income Tax ...

www.irs.gov/.../overview_of_fiduciary_income_taxation.pdf

Overview of Fiduciary Income Taxation Presented by: AICPA. Estate Gift & Trust Tax. Technical Resource Panel. Trusts – General Types • Inter vivos – Revocable – Irrevocable • Testamentary – By-pass – Marital/Qualified Property Interest (QTIP) Trust – Residuary. 2. Simple vs. Complex • Simple – All trust accounting income ...

www.reference.com/business-finance/residuary-trust-4d...

A residuary trust is typically the property of the decedent's equal to the remaining exclusion amount, as noted on the Business Dictionary website. It is part B of the A-B trust, otherwise referred to as the marital residuary trust. The A-trust is all of the decedent's assets that in excess of the allowed exclusions.

www.nolo.com/legal-encyclopedia/residuary-beneficiaies.html

The residuary beneficiary of a living trust receives all property transfered into the trust that isn't passed to specific beneficiaries. The residuary property is usually easily defined, because the only property to take into consideration is the property that was transferred into the trust.

www.lexisnexis.com/LegalNewsRoom/tax-law/b/stateandlocal...

The Residuary Trust opinion falls in line with that rule of law and also clearly indicates the New Jersey Tax Court's adherence to its holdings in Pennoyer and Potter that the due process requirement of the Fourteenth Amendment prohibits the state from taxing the undistributed income of a trustee, assets, and beneficiaries are located outside ...

hrbklaw.com/estatePlanningSummary.shtml

RESIDUARY TRUST. The Residuary Trust will initially receive the tax exempt portion of your estate for the benefit of your surviving spouse and descendants. Unlike the Marital Trust, the Residuary Trust can provide for substantial flexibility and give broader discretion to the Trustee.

www.journalofaccountancy.com/issues/2014/apr/trusts-estate...

Avoiding the squeeze: Trusts, estates, and the new ATRA tax regime Higher income tax rates and the net investment income tax change the rules for trust and estate planning. BY ROBERT S. BARNETT, ESQ., CPA, AND ELIZABETH FORSPAN, ESQ.

www.investopedia.com/university/estate-planning/estate...

Qualified Domestic Trust (QDOT) Estate planning for non-citizen spouses has its challenges. ... Credit shelter trusts can be an income tax planning tool for the survivors named as beneficiaries.