Demystifying Distributable Net Income (DNI)
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Jere Doyle will discusses the theory behind distributable net income (DNI), how the Internal Revenue Code defines DNI and the three reasons why DNI is important. The program will review sample calculations of DNI, how DNI gets reported on a Form 1041, how gains may enter into DNI and how the passive activity loss rules affect the calculation of DNI. The program will discuss how DNI gets allocated among the beneficiaries of a simple trusts and complex trust including a discussion of the tier system, the separate share rule, the 65 day rule, specific bequests and distributions in kind.
Objective: This program will incorporate drafting techniques to incorporate into estate planning documents to achieve the best income tax results.