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How to fill out the SAMPLE QSST ELECTION online

Filling out the SAMPLE QSST ELECTION form is an important step in electing to treat a trust as a qualified Subchapter S trust. This guide offers clear, step-by-step instructions to assist users in completing the form accurately and efficiently.

Follow the steps to complete the SAMPLE QSST ELECTION successfully.

  1. Click ‘Get Form’ button to obtain the form and open it in the editor.
  2. Begin by entering the current income beneficiary's information. This includes their name, address, and taxpayer identification number.
  3. Next, provide details about the trust. Fill in the trust's name, address, and taxpayer identification number.
  4. Now, input information about the S Corporation. Include the name, address, and taxpayer identification number.
  5. Indicate the effective date of the election by filling in the date on which the election is to become effective.
  6. Confirm that all fields are completed accurately, including the information regarding distributions and beneficiaries as specified in the election requirements.
  7. Finally, ensure the signature of the beneficiary is included, along with their printed name and the date of signing.
  8. Once all information is entered and verified, you can save changes, download, print, or share the completed form as necessary.

Complete your SAMPLE QSST ELECTION online for timely and accurate processing.

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Related content

Instructions for Form 2553 (Rev. December 2020)
Form 2553 is used to elect to be an S corporation, which is taxed to shareholders, not the...
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26 CFR § 1.1361-1 - S corporation defined.
Example 1. Shares of stock in Corporation X, an S corporation, are held by Trust A, a QSST...
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The main difference between an ESBT and a QSST is that an ESBT may have multiple income beneficiaries, and the trust does not have to distribute all income. Unlike with the QSST, the trustee, rather than the beneficiary, must make the election.

SUMMARY. Both qualified Subchapter S trusts (QSSTs) and electing small business trusts (ESBTs) may hold an interest in an S corporation. A QSST may only have one beneficiary, who is treated as the owner of the S corporation stock held by the trust for which a beneficiary election is made.

Explanation. Qualified subchapter S trusts (QSST) are frequently used as an estate planning tool. These trusts allow holders of subchapter S stock to transfer ownership to a single beneficiary. This is in contrast with an electing small business trust (ESBT), which allows for multiple beneficiaries.

A Qualified Subchapter S Trust, commonly referred to as a QSST Election, or a Q-Sub election, is a Qualified Subchapter S Subsidiary Election made on behalf of a trust that retains ownership as the shareholder of an S corporation, a corporation in the United States which votes to be taxed.

If a qualified subchapter S trust (QSST) owns both S corporation stock and other assets, determining whether the income from the other assets must be distributed to the beneficiary depends on the terms of the trust document.

The main benefit of a QSST is that it is treated as a grantor trust and therefore considered an eligible S corporation shareholder.

To qualify as a QSST, the trust must require that all of the net income be distributed to a single beneficiary. While principal of the QSST may also be distributed to the beneficiary in the discretion of the Trustee, the QSST cannot provide for multiple beneficiaries.

A Qualified Subchapter S Trust, commonly referred to as a QSST Election, or a Q-Sub election, is a Qualified Subchapter S Subsidiary Election made on behalf of a trust that retains ownership as the shareholder of an S corporation, a corporation in the United States which votes to be taxed.

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© Copyright 1997-2026
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Your Privacy Choices
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Help Portal
Legal Resources
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
altaFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2026
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232