[Code of Federal Regulations]
[Title 26, Volume 8]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.641(b)-1]

[Page 12-13]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1--INCOME TAXES--Table of Contents
 
Sec. 1.641(b)-1  Computation and payment of tax; deductions and credits of estates and trusts.

    Generally, the deductions and credits allowed to individuals are 
also allowed to estates and trusts. However, there are special rules for 
the computation of

[[Page 13]]

certain deductions and for the allocation between the estate or trust 
and the beneficiaries of certain credits and deductions. See section 642 
and the regulations thereunder. In addition, an estate or trust is 
allowed to deduct, in computing its taxable income, the deductions 
provided by sections 651 and 661 and regulations thereunder, relating to 
distributions to beneficiaries.