Credit Shelter Trust

[Ranger]

Can anybody verify when the tax period for a Credit Shelter Trust begins? It appears to begin on the date of funding vs. date of death.

In this situation, there is leased farm property and investments. So for the 14 months between DOD and funding of the CST, the income would be reported on 1041 for the estate?

In regards to depreciation, would the estate claim on 1041 until funding of the CST? Then the CST would pick up where the estate left off?

PS Thanks Jainen for your response to me previous post.

[jainen]

>>Thanks Jainen for your response to me previous post<<

You're welcome! I have the same response to this post--read the trust documents! Was this a typical living trust that automatically became an irrevocable A/B arrangement at death? Were both spouses grantors, and was all the property joint? You may still have time to elect to treat the trust as part of the estate, if that helps.

I don't know the answer but I know where to find the answer. It will probably take several billable hours, but read the trust documents!