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Member
Group: Forum Members
Last Login: 4/24/2009 10:39:05 AM
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| Does anyone know what "properly credited" means when it comes to Tier 2 distributions from a decednt's estate? If the amount is "credited" by giving the beneficiary a promissory note before the year end, by when does it actually have to be paid in order for the estate to take a distribution deduction? We want the beneficiary to pay tax on the income and not the decedent's estate.
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Power Member
Group: Forum Members
Last Login: 1/6/2010 6:00:00 PM
Posts: 83,
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The last time I looked there wasn't much to go on. You might look at Estate of Johnson 88 TC 225 for a relatively recent (1987) Tax Court case. Here, bookkeeping entries weren't enough.
John Jacobson
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