Federal Income Taxation of Trusts and Estates (Completed)

Date: Monday, May 23, 2022
Instructor: Steven G. Siegel
Begin Time:  12:00pm Pacific Time
1:00pm Mountain Time
2:00pm Central Time
3:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC
2 hours Estate Planning for CFP

As more clients are using trusts for estate planning, asset protection and wealth management purposes, and in reaction to planning issues prompted by the pandemic, it is essential that practitioners develop practical knowledge regarding income taxation of trusts and estates. This webinar provides a concise and useful review of key issues and considerations that arise in connection with the income taxation of trusts and estates.

Who Should Attend
This course is essential for CPAs, CFPs, enrolled agents, estate planners, tax attorneys, and other professionals who advise clients on tax, retirement and estate planning, and other wealth management matters.

Topics Covered

  • Basic Concepts and Issues
  • How estates and trusts are taxed
  • Tax years
  • Fundamental Concepts: Trust accounting income, distributable net income, taxable income
  • Income Reportable by Fiduciaries
  • Deductions Available to Fiduciaries
  • Specific Items of Deduction
  • Distributions; Special Issues and Situations
  • Trusts and Estates and the Alternative Minimum Tax

Learning Objectives

  • Recognize how estate and trust income is taxed
  • Identify how estate and trust income is defined, calculated, and reported
  • Describe key compliance and planning issues as well as concerns related to fiduciary income taxation
  • Identify when the decedent's taxable year ends
  • Recognize which type of trust has an annual exemption of $300
  • Describe trust accounting income
  • Recognize the annual net capital loss deduction limitation against ordinary income


Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites

Advance Preparation

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