Income Distribution Deduction
Income Distribution Deduction
Definition: A deduction allowed to a trust for distributions to beneficiaries sometimes referred to as "idd." it is limited to distributable net income and is designed to avoid double taxation on income flowing from the trust to its beneficiaries. Irc sections 651 and 661.
Definition: A deduction allowed to a trust for distributions to beneficiaries sometimes referred to as "idd." it is limited to distributable net income and is designed to avoid double taxation on income flowing from the trust to its beneficiaries. Irc sections 651 and 661.