eLearning

Qualified Subchapter S Trusts

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DESCRIPTION

This course deals with the basic requirements related to qualified subchapter S trusts, or QSSTs. In this course we will discuss election procedures (including termination of the QSST), and address the tax principles associated with these trusts. 

Educational Objectives
• Describe the threshold distribution qualification for QSSTs 
• Identify two (2) special situations regarding distributions 
• Describe the four (4) provisions that are required for a trust to qualify as a QSST
• Understand who must make a QSST election
• Describe the basic components of a valid QSST election 
• Identify the deadline for filing a QSST election 
• Describe the circumstances and consequences involving revocation and termination of QSST elections
• Understand the basic tax consequences of a QSST; Describe the tax consequences of failing to make a proper QSST election or the termination of such election
• Identify the tax results from the sale of S corporation stock by a QSST