Tax compliance issues for fiduciary entities are sometimes confusing to practitioners since many lack experience in this area. This course provides the practitioner with a practical understanding of the issues involved in preparing the U.S. Income Tax Return for Estates and Trusts (Form 1041).
▪ Recognize the components of the U.S. Income Tax Return for Estates and Trusts (Form 1041).
- How to prepare a Form 1041
- Specific issues regarding a decedent’s estate
- Specific issues regarding a trust
- Understanding the basics of Subchapter J of the Internal Revenue Code
- How to comply with the tax compliance issue
- Case studies regarding reading an estate document
- Understanding of distributable net income (DNI)
- Understanding of income in respect of a decedent (IRD)
• Line-by-line instruction
Professional Area of Focus
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The Complete Guide to the Preparation of Form 1041