Fiduciary Taxation Part 3: Complex Trusts & Charitable Deduction 25-26

Overview

During part 3, of this 4-part series, we’ll focus on the accounting and taxation of Complex Trusts. Using a series of calculations, determine whether the fiduciary or the beneficiary bears the burden of taxation and if the trust or estate is treated as a taxpaying entity or a conduit. The requirements and use of a charitable contribution deduction are also reviewed and its relationship with and difference from fiduciary accounting. Be sure to register for all courses in this series: Fiduciary Taxation Part 1: Introduction to Form 1041 Fiduciary Taxation Part 2: Fiduciary Accounting & Simple Trusts Fiduciary Taxation Part 3: Complex Trusts & Charitable Deduction Fiduciary Taxation Part 4: Miscellaneous Topics & AMT

Highlights

• The Differences between a Simple and Complex Trust
• The Use of the Tier System with Complex Trusts
• Review of Basic Requirements of the Charitable Contribution Deduction under IRC Sec. 642(c)
• Preparation of a Tax Spreadsheet for a Complex Trust
• Preparation of a Tax Spreadsheet for a Complex Trust with a Charitable Contribution Deduction
• Complex Problem Form 1041 Examples with Spreadsheets and Exhibits

Prerequisites

Fiduciary Taxation Part 2: Fiduciary Accounting & Simple Trusts

Designed For

Tax practitioners, accountants and financial professionals.

Objectives

• Recognize the difference between a simple and complex trust
• Determine whether you have a simple or complex trust
• Identify the special issues related to a complex trust

Preparation

None

Notice

This course is offered by a 3rd party vendor. Login instructions will not be accessible in the My CPE Tracker section of the ISCPA website. Login instructions will be emailed directly to you by California Education Foundation (CalCPA).