Income in Respect of a Decedent (Completed)

Date: Monday, May 17, 2021
Instructor: Klaralee R. Charlton
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC
2 hours Estate Planning for CFP

Income in respect of a decedent (IRD) defines a category of assets includable in the decedent’s taxable estate but which the decedent has not yet received. In addition to the estate tax consequences, IRD received after the taxpayer passes away is taxed differently from most of the decedent’s other assets. While the most common types of IRD include annuities, retirement plans, and final wage payouts; there are many other less readily identifiable types of IRD. In this course you will learn how to define IRD, determine when IRD is includable in the gross estate, and identify who must report IRD as taxable income.

Who Should Attend
Attorneys, CPAs, Enrolled Agents

Topics Covered

  • Analysis of IRC 691 and related code sections and regulations
  • Review of Key Case Law related to the identification and taxation of IRD
  • Overview of the types of income characterized as IRD
  • Examples of how to calculate IRD and potential tax after the death of the taxpayer
  • Analysis of deductions in respect of a decedent which may be claimed after death
  • Illustrations of the estate tax deduction allocable against IRD

Learning Objectives

  • Describe the difference between IRD and non-IRD assets of the estate
  • Identify potential deductions in respect of a decedent
  • Recognize and analyze the potential tax impacts related to IRD assets
  • Recognize how to recommend tax planning to clients who own IRD assets
  • Identify the tax impact on an estate or beneficiary receiving an IRD asset


Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites

Advance Preparation

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