Practical Tax Strategies
There are numerous elections that fiduciaries can make on estate and trust federal income tax returns to help maximize tax efficiency for the entity and its beneficiaries. One such election is the Section 643(e)(3) election, which permits a fiduciary to treat the distribution of in-kind property as having been sold by the entity to the beneficiaries at fair market value (FMV), thereby triggering potential gain, among other consequences.
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