Taxation of Trusts and Estates and Preparing Form 1041 (Full-Day Webinar) (Completed)

Date: Tuesday, February 25, 2020
Instructor: Steven G. Siegel
Begin Time:  7:00am Pacific Time
8:00am Mountain Time
9:00am Central Time
10:00am Eastern Time
CPE Credit:  8 hours for CPAs
8 hours Federal Tax Related for EAs and OTRPs
8 hours Federal Tax Law for CTEC
8 hours Estate Planning for CFP

Get Expert Tips and Tactics for Trusts and Estates and 1041 Prep

With more and more trusts being used today and audits of Form 1041 (U.S. Income Tax Return for Estates and Trusts) on the rise, it has never been more critical to understand the ins and outs of income taxation of trusts and estates and the preparation of the Fiduciary Income Tax Return. Recent shifts and changes in the taxation of estates and trusts have also changed some of the planning techniques that practitioners should consider when advising clients.

Presented by noted tax and estate planner, author and educator, Steve Siegel, J.D., LL.M., this full-day CPE online webinar (8 hours CPE credit) provides a practical review of issues and considerations that arise in connection with the income taxation of trusts and estates and preparing Form 1041. Mr. Siegel will offer clear explanations and helpful tips on this important topic, so you can advise your clients with confidence. And he will draw on his many years of experience in advising a wide variety of clients to provide a helpful line-by-line review of what must be done to accurately complete Form 1041 and address problems faced in this complex area.

Partial credit will not be awarded for attendees that are not present for the entirety of the webinar.

This course is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.

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

  • The Operative Documents
  • Estates: Basic Concepts and Issues
  • Trusts: Basic Concepts and Issues
  • Tax Years
  • Return Filing Requirements
  • Estimated Payments
  • Simple, Complex and Grantor Trusts
  • The Qualified Revocable Trust Election
  • Fiduciary Tax and Accounting Issues
  • How Fiduciary Income is Defined
  • Trust Accounting Income and DNI
  • Income Items Reportable by Fiduciaries
  • Deductions Available to Fiduciaries
  • New IRS Regulations Addressing the 2% Floor
  • Tax Calculations, Credits and Payments
  • Distributions in the Year of Termination
  • Distributions in Kind
  • Alternative Minimum Tax on Trusts and Estates
  • Impact of the Net Investment Income Tax on Trusts and Estates
  • Sample Practical Problems with Completed Forms — How to Approach Form 1041 Preparation in Different Situations

Learning Objectives

  • Identify how to help clients make the right choices in estate and trust planning
  • Recognize and apply the concepts of fiduciary income taxation
  • Describe the various trust options available in estate planning
  • Recognize how to prepare Form 1041 correctly


Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (8 hours)

Program Prerequisites
Basic knowledge of federal wealth transfer taxes.

Advance Preparation

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