With respect to taxable years of a trust beginning before January 1, , the fiduciary of the trust may elect under section (b) to treat distributions within the . With respect to taxable years of a trust beginning before January 1, , the fiduciary of the trust may elect under section (b) to treat. Simply put, a (b) election allows distributions made to “If this is an estate or complex trust making the section (b) election, check here.
Trustees of complex trusts and executors of estates have an election at their disposal that should not be forgotten. This is the section (b). One of the tax planning tools available to trustees of estates and complex trusts is the IRC Section (b) election, also known as the “day. Under Section (b) of the Internal Revenue Code, any distribution by an A fiduciary may make the election for only a partial amount of the.
ceding taxable year by reason of sec- tion (b) and this section. An election shall be made for each taxable year for which the treatment is desired. The ap-. To manage the tax burden of a complex trust, trustees can use the “Day Rule” (also called a (b) election) to make distributions to trust. Trustees interested in managing the tax burden of a complex trust should be familiar with the (b) election, also known as the 65 Day Rule. Note: To make this irrevocable election under §(b), Question 6 on Final Regulation Section (a)-3 discusses when capital gains can.