The Impact of the 2017 TCJA on Form 1041 (Completed)

Even though Form 1041 escaped mostly unscathed by the 2017 TCJA, discerning practitioners who prepare complex Form 1041 returns will appreciate this focused examination of the Act’s impact in this unique filing area.

Who Should Attend
Attorneys, CPAs, & Enrolled Agents

Topics Covered

• Revocation of Miscellaneous Deductions Subject to 2%
• Limits on Administrative and Tax Deductions
• Effects of I.R.C. § 199A on Entities and Beneficiaries
• Deduction of Final Year Expenses
• Electing Small Business Trust Changes
• Importance of I.R.C. § 1014 in Current Trust Planning

Learning Objectives

• Identify how to advise clients on the benefits of I.R.C. § 1014 and properly report transactions affected by this provision
• Recognize the applicability of I.R.C. § 199A and its allocation between the entity and its beneficiaries
• Identify the potential temporary nature of the TCJA changes and future planning opportunities

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic understanding of Form 1041.

Advance Preparation
None