100%(2)2 out of 2 people found this document helpful
This preview shows page 8 - 10 out of 12 pages.
False. The tax return would be due on the regular due date if the decedent had continued to live for the 1. entire year. 2. 4. False. Income in respect of the decedent will be included on the income tax return of the estate or 5. beneficiary who is entitled to the payment and actually receives it. 6. income tax return. 7. 11. False. If one or more beneficiaries of a trust are nonresident aliens or if the trust has taxable income, an 12. income tax return must be filed even if gross income is below $600. 13. True. 16. True. 17. True. 18. False. An estate can have a fiscal year end, therefore, March 6 th is only applicable to trusts. 19. True. Only NOLs, capital losses, and excess deductions can flow out. 20. False. The return is due on his normal due date (April 15). 21. True. 22. True. It will have a tax year of four months because all trusts are on a calendar year end. 23. False. An estate can have any fiscal year end that it desires. 24. False. Two tier system. 25.