NB: course will say “Closed” until you’ve registered for the seminar.
Instructor: Allen Margulis
An estate may have cancellation of debt (COD) income if, for example, a creditor of the estate fails to file a claim within the required filing period. If the estate is insolvent, that COD income may be excluded. This course discusses the general COD rules and how those rules may apply to an estate.
- Understand when an estate may have cancellation of debt income
- Know when cancellation of a debt owed to the decedent may be included in the gross estate
- Know when cancellation of a debt owed to a decedent constitutes income in respect of a decedent
- Understand the types of partial interest gifts that qualify for an income tax charitable contribution deduction or an estate tax charitable deduction
- Advise a client about estate tax planning opportunities to take advantage of the increased exclusion amount
- Recognize provisions in a trust that cause it to be treated as a grantor trust
- Understand how jointly owned property is included in the gross estate
- Calculate the basis in inherited property that was jointly owned
- Recognize when life insurance proceeds used for a redemption may be included in the value of a business for estate tax purposes
