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Passive Losses, Trusts and Estates: The Regulations (If I Were King)

Posted: 27 Dec 2005  

Leo L. Schmolka

New York University School of Law

Abstract

The passive loss rules of § 469 apply to trusts and decedents' estates. How that is to come about, however, is a complete mystery since, in the 19 years since § 469's enactment in 1986, the government has offered not a shred of published guidance on the intersection of § 469 and subchapter J: no regulations, either final or proposed, no rulings, no notices, no announcements. Nothing.

This article steps into the void. It sets forth comprehensive suggested regulations that would coordinate the interaction of the passive loss rules with the rules governing the income taxation of trusts and decedents' estates. It provides the reasoning behind, and detailed explanations of, all but the most self-evident provisions.

Suggested Citation

Schmolka, Leo L., Passive Losses, Trusts and Estates: The Regulations (If I Were King). Tax Law Review, Vol. 58, No. 3, 2005. Available at SSRN: https://ssrn.com/abstract=871456

Leo L. Schmolka (Contact Author)

New York University School of Law ( email )

40 Washington Square South
New York, NY 10012-1099
United States
212-998-6166 (Phone)

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