Guide to Form 1041: Tax Liability for Estates and Trusts
Get a thorough review of Form 1041 and all of the considerations necessary for determining the tax liability of estates and trusts. This three-course bundle covers the basics, such as assisting clients with making elections and reviewing the available deductions, as well as more advanced fiduciary income tax concepts.
Learn the basic concepts related to filing the Form 1041 fiduciary income tax return for trusts and estates including identifying sources of income, eligible deductions, and passing income out to beneficiaries. This course will highlight unique issues related to Form 1041 and useful techniques practitioners can use to reduce overall tax liability.
This course is part 1 of a two-part course on Form 1041 and the concepts involved in the federal taxation of trust and estates. Instructor Klaralee Charlton will help you understand the basic concepts involved in how trusts and estates are taxed. She will show you where the tax questions move from that of the decedent into that of the estate and any related trusts. With this course, you’ll learn the concepts and steps you’ll need to understand to complete Form 1041 and advise clients on the necessary steps to properly report the income of an estate or trust.
This self-study course looks at the more advanced concepts in fiduciary taxation and how those are applied on Form 1041. Distributable Net Income is covered in more detail and how trusts are reflected on the return get a closer look as instructor Klaralee Charlton applies the concepts learned in Part 1 and extends those concepts into how they apply to a Form 1041 for a complex trust.
Total: 3 courses (12 CPE hours)