Αποτελέσματα Αναζήτησης
22 Μαρ 2019 · Form 8855 is used to make a section 645 election, which election allows a qualified revocable trust to be treated and taxed (for income tax purposes) as part of its related estate during the election period.
1 Μαΐ 2024 · Making the Sec. 645 election. The executor or trustee makes the Sec. 645 election by completing and filing Form 8855. Once made, the election is irrevocable (Secs. 645 (a) and (c)).
The trustees of each qualified revocable trust (QRT) and the executor of the related estate, if any, use Form 8855 to make a section 645 election. This election allows a QRT to be treated and taxed (for income tax purposes) as part of its related estate during the election period. Once the election is made, it cannot be revoked.
Make Section 645 election for Form 8855. Form 8855 must be processed by the IRS to take full effect. The IRS prefers to have the election filed before Form 1041's filed. This ensures proper processing and minimizes the possibility of generating an erroneous IRS notice. To make the election: Select the option to make the election.
18 Φεβ 2019 · The IRC § 645 election is irrevocable once made. The election must be made on IRS Form 8855 (Election to Treat a Qualified Revocable Trust as Part of an Estate) by the due date, including extensions, of the estate’s initial income tax return.
Section 645 provides for an election to treat a trust as part of the decedent’s probate estate for income tax purposes, if certain conditions are satisfied.
Section 645 is often used to combine a trust with an estate as a single entity for tax purposes. Here is how it works.
