[Code of Federal Regulations]
[Title 26, Volume 8]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.641(b)-1]

[Page 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 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.