Treasury Regulations (26 C.F.R.)
26 CFR § 1.641(a)-2
Gross income of estates and trusts.
The gross income of an estate or trust is determined in the same manner as that of an individual. Thus, the gross income of an estate or trust consists of all items of gross income received during the taxable year, including:
# (a)
Income accumulated in trust for the benefit of unborn or unascertained persons or persons with contingent interests;
# (b)
Income accumulated or held for future distribution under the terms of the will or trust;
# (c)
Income which is to be distributed currently by the fiduciary to the beneficiaries, and income collected by a guardian of an infant which is to be held or distributed as the court may direct;
# (d)
Income received by estates of deceased persons during the period of administration or settlement of the estate; and
# (e)
Income which, in the discretion of the fiduciary, may be either distributed to the beneficiaries or accumulated. The several classes of income enumerated in this section do not exclude others which also may come within the general purposes of section 641.
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In this part (40 sections)
- 1.616-3 · Time for making election with respect to returns due on or…
- 1.617-1 · Exploration expenditures.
- 1.617-2 · Limitation on amount deductible.
- 1.617-3 · Recapture of exploration expenditures.
- 1.617-4 · Treatment of gain from disposition of certain mining property.
- 1.617-5 · Effective/applicability date.
- 1.631-1 · Election to consider cutting as sale or exchange.
- 1.631-2 · Gain or loss upon the disposal of timber under cutting…
- 1.631-3 · Gain or loss upon the disposal of coal or domestic iron ore…
- 1.632-1 · Tax on sale of oil or gas properties.
- 1.636-1 · Treatment of production payments as loans.
- 1.636-2 · Production payments retained in leasing transactions.
- 1.636-3 · Definitions.
- 1.636-4 · Effective dates of section 636.
- 1.638-1 · Continental Shelf areas.
- 1.638-2 · Effective date.
- 1.639-1.640 · §§ 1.639-1.640 [Reserved]
- 1.641 · [Reserved]
- 1.641(a)-0 · Scope of subchapter J.
- 1.641(a)-1 · Imposition of tax; application of tax.
- 1.641(a)-2 · Gross income of estates and trusts.
- 1.641(b)-1 · Computation and payment of tax; deductions and credits of…
- 1.641(b)-2 · Filing of returns and payment of the tax.
- 1.641(b)-3 · Termination of estates and trusts.
- 1.641(c)-0 · Table of contents.
- 1.641(c)-1 · Electing small business trust.
- 1.642(a)(1)-1 · Partially tax-exempt interest.
- 1.642(a)(2)-1 · Foreign taxes.
- 1.642(a)(3)-1 · Dividends received by an estate or trust.
- 1.642(a)(3)-2 · Time of receipt of dividends by beneficiary.
- 1.642(a)(3)-3 · Cross reference.
- 1.642(b)-1 · Deduction for personal exemption.
- 1.642(c)-0 · Effective dates.
- 1.642(c)-1 · Unlimited deduction for amounts paid for a charitable…
- 1.642(c)-2 · Unlimited deduction for amounts permanently set aside for…
- 1.642(c)-3 · Adjustments and other special rules for determining…
- 1.642(c)-4 · Nonexempt private foundations.
- 1.642(c)-5 · Definition of pooled income fund.
- 1.642(c)-6 · Valuation of a remainder interest in property transferred…
- 1.642(c)-7 · Transitional rules with respect to pooled income funds.