What does the election under IRC §663(b) to treat a qualifying distribution as made in the preceding year require? A The consent of affected beneficiaries B The consent of the majority of beneficiaries C The consent of all beneficiaries D An election by the trustee or executor
Added by Boris G.
Step 1
This can be beneficial for tax planning purposes. The election under IRC §663(b) does not require the consent of the beneficiaries, whether affected, majority, or all. Instead, it requires an election by the trustee or executor of the trust or estate. Show more…
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