Get the free Form 8855 Election To Treat a Qualified Revocable Trust as Part of ...

Form 8855 (March 2004) Election To Treat a Qualified Revocable Trust as Part of an Estate OMB No. 1545-1881 Department of the Treasury Internal Revenue Service Part I Estate (or Filing Trust) Information

How to fill out form 8855 election to

How to fill out form 8855 election to:

1. Begin by downloading the form from the official website of the Internal Revenue Service (IRS).
2. Fill in your personal information such as your name, Social Security number, and address in the designated fields.
3. Provide the necessary details regarding the stock, mutual fund, or security for which you are making the election.
4. Calculate the tax consequences of making the election by referring to the instructions provided with the form.
5. Sign and date the form to certify the accuracy of the information provided.

Who needs form 8855 election to:

1. Individuals who have received distributions from a foreign trust, estate, or nongrantor trust that want to make the election to be treated as a domestic trust for tax purposes.
2. Tax filers who wish to avoid any potential tax complications or liabilities associated with foreign trusts and instead, want their foreign trust to be treated as a domestic trust by the IRS.
3. Those who have obtained professional advice or guidance indicating the need to make the election to form 8855 in their specific situation.

For pdfFiller’s FAQs

What is form 8855 election to?

Form 8855 election is used to notify the Internal Revenue Service (IRS) of an individual's election to defer income tax on certain distributions from a foreign trust.

Who is required to file form 8855 election to?

Individuals who receive distributions from a foreign trust and wish to defer income tax on those distributions are required to file form 8855 election.

How to fill out form 8855 election to?

To fill out form 8855 election, you need to provide personal information, details of the foreign trust, information about the distributions received, and make the election to defer income tax.

What is the purpose of form 8855 election to?

The purpose of form 8855 election is to inform the IRS about an individual's decision to defer income tax on eligible distributions from a foreign trust.

What information must be reported on form 8855 election to?

Form 8855 election requires information such as the individual's name, address, taxpayer identification number, details of the foreign trust, and information about the distributions received.

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