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).
At the end of this course you will be able to:
▪ 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
CPAs, EAs, and attorneys