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Member
Group: Forum Members
Last Login: 3/1/2006 7:40:12 AM
Posts: 1,
Visits: 2
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Administrative trust with 1 CA trustee and 1 non-resident trustee and 2 CA beneficiaries and 1 non-resident beneficiary. Is an administrative trust treated like an estate in that all taxable income would be taxed in CA if the decedent was a CA resident or is it truly a trust where we apportion the income? I initially thought the later, except that administrative trusts are treated like estates for estimated tax purposes.
Kathy Kobata, CPA
Public Practice, Monterey, CA
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Power Member
Group: Forum Members
Last Login: 1/6/2010 6:00:00 PM
Posts: 83,
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Is there a Section 645 election in effect?
John Jacobson
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| No there isn't. Sorry, forgot to mention that.
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Power Member
Group: Forum Members
Last Login: 1/6/2010 6:00:00 PM
Posts: 83,
Visits: 123
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I treat terminating trusts as "trusts" under the California rules unless there is a Section 645 election. You might check for any rulings, etc. on R&TC 17751, which deals with IRC Section 645 for California purposes, but a plain reading of it seems to say that if there is no 645 election, then the trust rules apply. Let us know if you find anything.
John Jacobson
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