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- Registration now open for September 17, 2019 CPE Seminar, “IRC Sec. 199A: Wasn’t the Code to be Simplified?” August 26, 2019
- A Journey Through IRC Section 199A: Wasn’t the Code to be Simplified? July 25, 2019
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- FROM WASHINGTON & ALBANY — Current Election Probabilities; Tax Plans of Trump and Clinton May 13, 2016
- FROM FEDERAL AND NYS COURTS: Recent Developments & 2015 Decisions of Note May 13, 2016
- IRS & NYS DTF MATTERS: Recent Developments & 2015 Regs. & Rulings of Note May 13, 2016
- Creating and Maintaining Flexibility in Wills and Trusts May 13, 2016
- Escaping the Quandary Posed by Unreported Foreign Accounts May 13, 2016
- Like Kind Exchanges Alive and Well: An Update May 13, 2016
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- Valuation Discounts for LLCs
- Executor and Trustee Commissions Under NY EPTL
- Taxation of Foreign Nongrantor Trusts: Throwback Rule
- Depreciation Recapture
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- Letters Testamentary
- September 17 CPE Breakfast Lecture in Old Westbury, New York -- "IRC Sec. 199A: Wasn't the Code to be Simplified?"
- Tax and Legal Issues Arising In Connection With the Preparation of the Federal Gift Tax Return, Form 709 -- Treatise
- New York's Revised Decanting Statute Under EPTL §10-6.6
- Rev. Rul. 85-13: Is There a Limit to Disregarding Disregarded Entities?
Daily Archives: March 24, 2010
Installment Sale Reporting of Deferred Exchange Boot
IRC §453 provides that an “installment sale” is a disposition of property where at least one payment is to be received in the taxable year following the year of disposition. Income from an installment sale is taken into account under the “installment method,” whereby income recognized in any taxable year following a disposition equals a proportion of the payments received, that proportion being equal to the gross profit over the total contract price. Continue reading
Posted in Federal Income Tax, Like Kind Exchanges
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General Power of Appointment Can Neutralize Estate Tax
A general power of appointment is power of appointment that is exercisable in favor of the donee, the donee’s creditors, or the creditors of the donee’s estate. Under IRC § 2042, the value of property over which the donee possesses a general power of appointment at death is included in the donee’s estate. Continue reading
Posted in Estate Planning, General Power of Appointment
Tagged 2523(f), applicable exclusion amount, appoint trust assets, completed gift, credit shelter, credit shelter trust, equalize, equalize estates, general power of appointment, PLR 200101021, PLR 200210051, PLR 200403094, PLR 200604028, QTIP, testamentary general power of appointment, unequal estates
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Law Offices of David L. Silverman 