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Expert Analysis

Tax Court Fails To Address Important Trust Income Issues

Law360, New York (July 9, 2014, 10:41 AM EDT) -- The issue of whether a trust has passive or nonpassive income from its investment in a pass-through entity has taken on increased importance in light of the tax imposed on net investment income under Section 1411 of the Internal Revenue Code of 1986, as amended (the "Code"). The increased scrutiny of the distinction between passive and nonpassive income arises because income derived from a passive activity is subject to the net investment income tax, whereas income from an active trade or business is not subject to the new tax....

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