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Business & farm
@ITALIANTINA wrote:I read where a IRC 654 election is for a revocable trust.
It applies to a "qualified revocable trust" which is a trust that was treated as owned by the decedent of the estate (i.e., generally a grantor trust).
Regardless, you need tax and legal guidance for the scenario you outlined.
‎August 6, 2019
12:08 PM