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).
Course ID: 1041
The Complete Guide to the Preparation of 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 “Obamacare” 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
DESIGNED FORCPAs, EAs, and attorneys
FIELD OF STUDY