Observation: The rule prohibiting possible corpus distributions to anyone other than the
current income beneficiary during that beneficiary's lifetime is an absolute requirement to maintaining the trust as an eligible S shareholder.
The Smiths reduce their
current income tax liability and future estate tax liability while avoiding capital gains tax on the property's appreciation.
Current tax recoverables include all
current income taxes reasonably expected to be recovered in a subsequent accounting period.
The
current income trust must have its income paid out at least annually to the beneficiary with no discretion left to the trustee to accumulate income.
For a
current income bond, the Wizard shows the current interest rate, the bond's next payment and final maturity dates, and allows a user to enter the amount of interest deferred from other bonds applied to the purchase of the
current income bond.
402(c)(1) allows an individual to receive an eligible rollover distribution from a qualified retirement trust without being subject to
current income taxation or premature distribution penalties, if he transfers such distribution to another eligible retirement plan, such as an individual retirement account (IRA), within the 60-day period beginning on the distribution receipt date.
PIM is a diversified closed-end management investment company and seeks high
current income by allocating its investments among the US investment-grade sectors, high-yield sector and international sector.
When the unitrust recipient can rely on other sources of income, the trustee can invest the trust assets in variable deferred annuities that do not provide much
current income, but which have significant appreciation potential.
All three closed-end management investment companies, VCF and VMM seeks to provide
current income exempt from federal income tax and from the personal income tax of its state, if any, consistent with the preservation of capital, while VFL aims to provide
current income exempt from regular federal income tax consistent with the preservation of capital.
According to the IRS, the intent of the annual exclusion provision is accomplished by a gift in trust only when the individuals holding withdrawal powers have "current or long term economic interests in the trust and in the value of the corpus" (e.g.,
current income or vested remainder interests).
EAD is a closed-end high-yield bond fund that seeks a high level of
current income and also capital appreciation; ERC is a closed-end income fund that aims at a high level of
current income consistent with limiting its overall exposure to domestic interest rate risk; and ERH is a closed-end equity and high-yield bond fund that seeks a high level of
current income and moderate capital growth, with an emphasis on providing tax-advantaged dividend income.
during the
current income beneficiary's life there could be only one income beneficiary; 2.
