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The material ties the loan treatment to broader trust and estate administration topics such as filing return requirements, calculating QBI deductions, determining basis in inherited assets, and evaluating charitable deductions. 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does this chapter discuss estate tax planning for an increased exclusion amount?","Question",{"text":108,"@type":109},"It covers estate tax planning tied to an increased estate tax exclusion amount and portability of unused exclusion between spouses, beginning with Issue 1.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"How is the basic exclusion amount adjusted over time?",{"text":113,"@type":109},"The text describes an increase for deaths after December 31, 2017 and before January 1, 2026, with indexing for inflation after 2011.",{"name":115,"@type":106,"acceptedAnswer":116},"What is the focus of Issue 6?",{"text":117,"@type":109},"Issue 6 focuses on below-market loans, explaining when the IRS will impute interest and identifying common exceptions to interest imputation.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},304840,1790251132,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":76,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":135,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":140,"read_time":15},962085571259,"https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0","TRUSTS AND ESTATES  \n6  \nIssue 1: Estate Tax Planning for an  \nIncreased Exclusion Amount 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 239 Issue 2: Planning for Use of the Increased  \nBasic Exclusion 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 248 Issue 3: QBI Deduction for  \nTrusts and Estates 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 250 Issue 4: Trust and Estate Tax Returns 􀀮 􀀮 􀀮 256 Issue 5: Basis in Inherited Assets 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 259 Issue 6: Below-Market Loans 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 263  \nIssue 7: Trust and Estate Charitable Deductions 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 􀀮 265  \nLEARNING OBJECTIVES  \nAfter completing this session, participants will be able to do the following:  \n✔ Understand estate planning for taxpayers with estates that do not exceed the exclusion amount  \n✔ Understand estate planning for taxpayers whose estates are close to or exceed the exclusion amount  \n✔ Advise a client about how to lock in the increased basic exclusion before it sunsets in 2026  \n✔ Calculate the QBI deduction for a trust or an estate and its beneficiaries  \n✔ Identify the tax returns that a trust or estate must file  \n✔ Determine the basis of inherited assets  \n✔ Explain when and how the IRS will impute interest on a below-market loan  \n✔ Explain the charitable deductions available toa trust or an estate  \n© 2019 Land Grant University Tax Education Foundation, Inc. 237  \n✔ Know the requirements for a charitable remainder trust  \n✔ Calculate the deduction for a contribution toa charitable remainder trust  \nINTRODUCTION  \nThe Tax Cuts and Jobs Act (TCJA) of 2017, Pub 􀀮 L 􀀮 No 􀀮 115-97, increased the estate tax basic exclusion to $11,400,000 (for 2019) 􀀮 This chapter discusses estate planning for taxpayers whose estates do not exceed the basic exclusion amount, and the use of trusts for taxpayers whose estates exceed or may exceed the basic exclusion amount 􀀮 The increased exclusion amount will be reduced to $5,000,000 (indexed for inflation) in 2026 􀀮 This chapter discusses how a taxpayer may lock in the increased exclusion amount prior to the time that it sunsets 􀀮  \nThe TCJA also enacted the I 􀀮 R 􀀮 C 􀀮 § 199A qualified business income (QBI) deduction 􀀮 This section reviews the deduction for trusts, estates, and their beneficiaries 􀀮 For a tax practitioner who is asked to assist a deceased taxpayer’s legal representative,  \nit is very important to understand the return filing requirements 􀀮 This chapter reviews the income and estate return filing requirements for a decedent and his or her trusts and estate 􀀮  \nFollowing the death of a taxpayer, the tax practitioner must determine the basis of the taxpayer’s assets to calculate gain or loss on a subsequent sale of those assets 􀀮 This chapter reviews the basis of inherited assets, including assets that were held jointly or as community property􀀮  \nHigh-income taxpayers may attempt to shift income and assets to lower-income taxpayers using below-market loans 􀀮 This chapter explains when the IRS will impute interest on a belowmarket loan, and some common exceptions to the imputation of interest 􀀮  \nFinally, this chapter discusses the charitable deduction for a trust or estate 􀀮 It explains the trust or estate income tax deduction for a charitable contribution, and how that differs from the estate tax charitable contribution deduction 􀀮 It also reviews the requirements for a charitable remainder trust, and the calculation of the taxpayer’s deduction for a contribution to the trust 􀀮  \n238 INTRODUCTION  \nISSUE 1: ESTATE TAX PLANNING FOR AN INCREASED EXCLUSION AMOUNT This section discusses estate tax planning with an increased exclusion amount and portability of the unused exclusion between spouses 􀀮  \nThis issue explores the continued usefulness of A-B and A-B-C trust planning in an era of unused exclusion portability between spouses, and anever-increasing estate tax basic exclusion. It discusses when A-B trusts andA-B-C trusts are useful to reduce or eliminate estate tax, and when those trusts unnecessarily cause additional inc","cbCairAZc51gyN0I","https://ap.wps.com/l/cbCairAZc51gyN0I","pdf",1085236,34,"English","# Learning Objectives\n# Introduction\n# Issue 1: Estate Tax Planning for an Increased Exclusion Amount\n# Issue 2: Planning for Use of the Increased Basic Exclusion\n# Issue 3: QBI Deduction for Trusts and Estates\n# Issue 4: Trust and Estate Tax Returns\n# Issue 5: Basis in Inherited Assets\n# Issue 6: Below-Market Loans\n# Issue 7: Trust and Estate Charitable Deductions","[{\"question\":\"When does this chapter discuss estate tax planning for an increased exclusion amount?\",\"answer\":\"It covers estate tax planning tied to an increased estate tax exclusion amount and portability of unused exclusion between spouses, beginning with Issue 1.\"},{\"question\":\"How is the basic exclusion amount adjusted over time?\",\"answer\":\"The text describes an increase for deaths after December 31, 2017 and before January 1, 2026, with indexing for inflation after 2011.\"},{\"question\":\"What is the focus of Issue 6?\",\"answer\":\"Issue 6 focuses on below-market loans, explaining when the IRS will impute interest and identifying common exceptions to interest imputation.\"}]","Trusts and Estates - Issue 6 - Below-Market Loans - read online free | PDF",1789818465]