Internal Revenue Bulletin:  2004-5 

February 2, 2004 

ESTATE TAX


Table of Contents

T.D. 9102 T.D. 9102

Final regulations under section 643 of the Code revise the definition of trust accounting income to take into account changes in the definition of trust accounting income under state laws, which allow certain amounts traditionally considered as principal to be treated as income. The regulations also clarify the situations in which capital gains will be included in a trust’s distributable net income. Conforming amendments with regard to the revised definition of trust accounting income are made to regulations affecting various trusts, including pooled income funds, charitable remainder trusts, trusts qualifying for the marital deduction, and trusts exempt from the generation-skipping transfer tax.

REG-139845-02 REG-139845-02

Proposed regulations under section 2032 of the Code concern the election to value a decedent’s gross estate on the alternate valuation date. The regulations reflect a change to the law made by the Deficit Reduction Act of 1984. The regulations, when finalized, will remove temporary regulation 301.9100-6T(b).


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