Course Description: This is an intermediate level course covering income in respect of a decedent (IRD). The focus of this course will be on identifying items that constitute IRD and how such items should be reported for income tax purposes. This course explores the concepts set forth in I.R.C. §691 relating to the items of income that should be treated as IRD, which taxpayers are responsible for reporting IRD, the timing and manner for reporting IRD, the items that may be used to offset IRD items, as well as other income recognized by taxpayers other than the decedent.

Course Level: Intermediate

Course Prerequisites: A basic understanding of income, deductions, and estate planning.

Delivery Method: Self-study

After completing this course, you will be able to achieve the following learning objectives: 

• Identify different types of items of IRD; Determine who can recognize IRD; 
• Determine the amount and nature of any IRD; 
• Identify any Deductions in Respect of a Decedent (DRD) and whom is entitled to it; and 
• Understand and calculate the interaction of IRD with the estate tax.

CPE

2

CLE

N/A