Form 1041: Tax Compliance, Review and Planning - Intermediate
Author: Michael Miranda
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
Ready to take your fiduciary tax knowledge to the next level? This intermediate-level course dives deeper into the complexities of Form 1041, equipping you with advanced strategies for trusts and estates.
You’ll explore income, deductions, credits, and distributable net income (DNI), plus learn how recent legislation—including TCJA and OBBBA—impacts fiduciary taxation. Gain practical insights on handling excess deductions upon termination, planning with Charitable Remainder Trusts, and leveraging Grantor Trust rules.
We’ll also cover post-mortem planning techniques and walk through a case study using an Intentionally Defective Grantor Trust (IDIT) for wealth transfer. Join us to sharpen your skills and deliver exceptional value to clients navigating complex estate and trust scenarios.
Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2028 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
Publication Date: January 2026
Designed For
All tax professionals who desire a better understanding of the fiduciary tax including the Form 1041 return reporting and be able to understand the flow of income from a trust to a beneficiary.
Topics Covered
- What "Advisors" should know about trusts and estates
- Types of trusts - by purpose
- Excess deductions upon termination of a trust or estate
- The impact of the TCJA and OBBBA legislation on trusts and estates
- Distributions in kind and non-pro-rata distributions
- Income in respect of a decedent (IRD)
- Postmortem planning - IRC §645 Election
- Grantor trust rules
- Charitable Trust (CRTs)
- Planning example using an IDIT
Learning Objectives
- Compute income, deductions, and credits for trusts and estates
- Apply tax rules for excess deductions upon termination of a trust or estate
- Identify filing requirements, forms, and deadlines for a decedent’s estate
- Explain unique aspects and compliance requirements of Grantor Trusts
- Prepare a current-year Form 1041 accurately
- Utilize post-mortem planning techniques for trusts and estates
- Identify a wealth transfer technique using a “special purpose” Trust
Level
Intermediate
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
Completion of Form 1041 – Tax Compliance, Review and Planning – Beginners
Advance Preparation
None
