Webinar
This course is drawn from Steve Gorin’s 2nd quarter 2026 newsletter. First, recent cases involve interest deductions, and we will see how they fit into the general framework of interest deductions and variations of loans. This will take about half of our time. Next, we will discuss how to deal with corporations that have sold their business and need to dissolve. Finally, we will review how to separate joint trusts, focusing on clarifying who is the grantor.
July 28, 2026
12:00 PM CT
We will run through a brief overview of the framework for deducting interest, including how to treat certain loans with inadequate stated interest. Recent cases:
- Sawyer v. Commissioner, T.C. Memo. 2026-33, addressed the deductibility of interest on a policy loan, when the policy terminated, extinguishing the policy loan. Some of the loan related to the taxpayer’s C corporation’s business, and some was to pay premiums. Beyond that case, we will discuss how to structure loans in connection with life insurance policies.
- Cardulla v. Commissioner, T.C. Memo. 2023-89, which the Ninth Circuit affirmed in 2025, discussing whether interest to buy real estate was deductible as investment interest or business interest.
When a corporation sells its business, generally it should be liquidated. Suppose a C corporation sells its business, but the owner wants to hold the stock until receiving a basis step-up at death. We will tackle how one can distribute investment earnings without a heavy tax burden, as well as getting the full benefit of inside and outside basis step-up at death.
Joint trusts are often used but given serious technical attention. They include community property trusts, joint revocable trusts, and irrevocable trusts where both spouses contribute. Joint trusts can create messy issues, we will discuss how to untangle trusts so that one can engage in cleaner planning.
CLE
The live presentation of this webinar was approved for 1.50 hours of general CLE credit in California, Illinois, and Texas; 1.80 hours of general CLE credit in Missouri; and 1.50 hours of professional practice CLE credit in New York. Please visit the CLE Overview page to see how the CLE credit for this recorded webinar can be applied in CA, IL, MO, NY, & TX.
If you are interested in receiving CA, IL, MO, NY, or TX CLE credit for watching the recorded presentation, you must register for the program by clicking here.
Participants will only be emailed a Certificate of Attendance if the webinar is viewed in its entirety. If you were unable to view the webinar in its entirety, please contact [email protected] to see if you are eligible to receive partial credit.
If you do not receive your Certificate of Completion, please e-mail [email protected].
