Sec. 13542. Charitable contribution deduction for electing small business trusts
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/bill/115/hr/1/unknown/section-13542A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 641(c)(2) is amended by inserting after subparagraph
(D)the following new subparagraph: Section 642(c) shall not apply. For purposes of section 170(b)(1)(G), adjusted gross income shall be computed in the same manner as in the case of an individual, except that the deductions for costs which are paid or incurred in connection with the administration of the trust and which would not have been incurred if the property were not held in such trust shall be treated as allowable in arriving at adjusted gross income. . The amendment made by this section shall apply to taxable years beginning after December 31, 2017.