Prentice Halls Federal Taxation 2015 Comprehensive
The $3,000 Limitation on Deducting Net Capital Losses Does Not
The $3,000 limitation on deducting net capital losses does not apply to a trust.
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Distributable net income (DNI)is not reduced by the charitable contribution deduction when calculating the deductible discretionary distributions for a complex trust.
Income in respect of a decedent (IRD)is included in the decedent's final income tax return.
Income in respect of a decedent (IRD)includes interest earned by a cash-basis taxpayer but not received by the taxpayer before death.
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