Fiduciary Income Tax Returns-Form 1041 Workshop with Filled-in Forms (VIRTUAL SEMINAR)

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1041-WEB  |  Virtual Live  |  Intermediate  |  Scheduled

Description

Please register by November 5

Please note: This seminar will only be available via live webcast.

Curriculum

  • Financial Planning
  • Taxation

Designed For

CPAs and other business professionals

Objectives

To understand the core concepts of trust and estate income tax preparation.

Highlights

  • Classifying receipts between “income” and “corpus” under the Uniform Principal and Income Act
  • Calculation of DNI utilizing three different methods, a “forms” method (Schedule B), a “code” method, and a “shortcut” method, utilizing a worksheet of common income and expenses
  • Proper W-2 preparation and procedures in the year of death
  • Taxpayer passes before taking a required minimum distribution; what must be done?
  • Forgetful fiduciaries of simple trusts
  • Fluctuating trusts – Simple one year, complex the next
  • Dividing income in the year of death
  • Overview of Subchapter J
  • Form preparation issues – Filing requirements and line-by-line explanations of Form 1041
  • Taxable income of estates and trusts and expense allocation issues
  • Specific deductions and miscellaneous itemized deductions
  • Income in respect of a decedent
  • The income distribution deduction calculation
  • Relation of principal and income law to DNI
  • Understanding how to handle capital gains and losses
  • Allocating tax items to beneficiaries: another K-1
  • Comprehensive DNI case study, with principal (cost and FMV) and income reconciliation
  • Comprehensive trust and estate case studies, with filled-in forms
  • 300+ page manual provides valuable reference
Your Price: $359.00

This is your base price and does not reflect any additional session fees, optional add-ons, or guest registrations.

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