An executor may elect to include "income in respect of a decedent" either in the gross estate on the Federal estate tax return or in gross income on the fiduciary Federal income tax return.

Question

Quizplus · Accepted Answer

Income in respect of a decedent (IRD) must be included in the gross income of the estate or the beneficiary who receives it, not in the gross estate for estate tax purposes.

An Executor May Elect to Include "Income in Respect of a Decedent