Estates, Trusts, and Gifts

Common provisions for fiduciary returns and transfer taxes.

Key sections and concepts

Section 641

Taxation of trusts and estates

Imposes income tax on estates and trusts.

Section 643

Distributable net income

Defines DNI and related terms.

Section 1014

Step-up in basis

Sets the basis of property acquired from a decedent.

Section 2010

Unified credit

Provides the credit against estate and gift tax.

Section 2056

Marital deduction

Allows a deduction for certain transfers to a surviving spouse.

Section 2503

Annual gift exclusion

Excludes annual gifts up to a set amount per recipient.

Popular search topics

• Form 1041 instructions
• Form 706
• Form 709 gift tax return
• step-up in basis
• gift tax exclusion
• grantor trust

For general education only, not tax advice. Tax law changes often, so confirm current rules and amounts with primary sources.