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Qualifying Subchapter-S Revocable Trust Agreement

Revocable Trust Agreement

Name: Qualifying Subchapter-S Revocable Trust Agreement
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.76 (350 reviews)

Category:

Trusts - Revocable

State:

Multi-State

Control #:

US-0687BG

Format:

Instant download

Description Subchapter S Trust

Qualified Subchapter S trusts (QSSTs) can provide taxpayers with substantial income tax and estate tax savings. QSSTs are different than other S corporation trusts in that the beneficiary is usually someone other than the grantor of their estate.

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Revocable Trust Agreement Sample Other Form Names

Subchapter S Form Revocable Trust Agreement Pdf Subchapter S File Subchapter S Sample Subchapter S Document Subchapter S Revocable Subchapter S Agreement

Qualifying Revocable FAQ

Only estates, individuals, and certain trusts can own shares in an S corp.If the trust is a grantor trust, testamentary trust, qualified Subchapter S trust (QSST), revocable trust, or retirement account trust, the trust counts as one shareholder.

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.

In order to become an S corporation, the corporation must submit a completed Form 2553 (Election by a Small Business Corporation) that has been signed by all the shareholders. The following information must be provided: The corporation's name and address. The tax year when the election will take effect.

While there can only be one income beneficiary, a QSST may designate successor beneficiaries. With an ESBT, you can set up one trust that includes all of the income beneficiaries. However, note that any ESBT designated beneficiaries must be an individual, estate or charity eligible to own S corporation stock.

1361(d)(3), for a trust to qualify as a QSST, its terms must require that during the life of the current income beneficiary, the trust will have only one income beneficiary; and all of the trust's accounting income must either be required by the terms of the trust instrument to be distributed, or actually be

Generally, estates and six types of trusts are eligible as S corporation shareholders, these include grantor trusts, electing small business trusts (ESBTs), qualified subchapter S trusts (QSSTs), and testamentary trusts (for two years after funding.

Houses and other real estate (even if they're mortgaged) stock, bond, and other security accounts held by brokerages (but think about naming a TOD beneficiary instead) small business interests (stock in a closely held corporation, partnership interests, or limited liability company shares)

Only estates, individuals, and certain trusts can own shares in an S corp. Corporations, partnerships, and non-resident aliens cannot own stock.If the trust is a grantor trust, testamentary trust, qualified Subchapter S trust (QSST), revocable trust, or retirement account trust, the trust counts as one shareholder.

Revocable Trust Agreement

Description Subchapter S Trust

Qualifying Subchapter S Related forms

How to fill out Subchapter S Template?

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Qualifying Revocable Trust Form Rating

Under Beneficiary Estate Form popularity

Revocable Trust Agreement Sample Other Form Names

Qualifying Revocable FAQ

Can a revocable living trust own an S Corp?

What is a qualified subchapter S trust?

How do I make an election for a corporation?

What is the difference between a QSST and ESBT?

What is qualified Subchapter S Trust?

How do I create a QSST election?

What kind of trust can be an S corporation shareholder?

What should be included in a revocable trust?

Can a trust own Subchapter S stock?

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