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Article Written for:  Florida Bar Journal

A foreign trust is generally treated as a non-resident/non-citizen (NRNC) for U.S. tax purposes. Foreign trusts are therefore subject to U.S. income tax only on U.S. source income.[1]

Article Written for:  the CPA Now, PICPA Pennsylvania Institute of Certified Public Accountants 

Foreign trusts generally incur taxable income similar to nonresident noncitizen (NRNC) individuals, with certain limitations on credits and deductions that are source income.1

Article Written for:  the CPA Now, PICPA Pennsylvania Institute of Certified Public Accountants 

A foreign trust is generally treated as a nonresident noncitizen (NRNC) holding for U.S. income tax purposes. Therefore, foreign trusts are subject to U.S. income tax only on U.S. source income.[1]

Forster Boughman & Lefkowitz

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ForsterBoughman
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