Commentary on Sections Structure of Chapters Overview Section 661: Basic amount of estate income: limited interests
2523.This section explains how to calculate the basic amount of estate income for limited interests. It is based on section 695 of ICTA.
2524.Essentially, the basic amount of estate income is all the sums referred to in section 654 falling within a particular tax year added together. It is impossible for there to be sums within both section 654(3)(c) and (4)(c) in the same tax year.