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Tuesday, November 3, 2020 Webcast

Fiduciary Income Tax Returns – Form 1041 Workshop with Filled-in Forms (E2011071)

9:00 AM - 4:30 PM EST

Registration: 8:30 AM EST



8.0 CPE Credits in TX


This course is designed for participants to understand the core concepts of trust and estate income tax preparation. The course explains the common terminology and complicated income tax rules of estates and trusts, fiduciary accounting, and an introduction to or refresher on preparing Form 1041. This practical, over 300-page manual is an excellent reference source for your practice, which begins with quite simple cases. Building upon that base throughout the manual, the course ends with two complicated preparation cases, one trust and one estate, each with filled-in forms.

This course features a live instructor and has been specifically designed for the NJCPA.


CPAs whose practice includes the preparation of fiduciary income tax returns.


  • Be aware of fiduciary accounting principles
  • Calculate Distributable Net Income and the income distribution deduction
  • Prepare Form 1041 and Schedule K-1


  • Classifying receipts between “income” and “corpus” under the Uniform Principal and Income Act
  • Calculation of DNI, utilizing three different methods: a “forms” method (Schedule B), a “code” method and a “shortcut” method, utilizing a worksheet of common income and expenses
  • Proper W-2 preparation and procedures in the year of death
  • Taxpayer passes before taking a required minimum distribution; what must be done?
  • Forgetful fiduciaries of simple trusts
  • Fluctuating trusts – Simple one year, complex the next
  • Dividing income in the year of death
  • Overview of Subchapter J
  • Form preparation issues – Filing requirements and line-by-line explanations of Form 1041
  • Taxable income of estates and trusts and expense allocation issues
  • Specific deductions and miscellaneous itemized deductions Income in respect of a decedent
  • The income distribution deduction calculation
  • Relation of principal and income law to DNI
  • Understanding how to handle capital gains and losses
  • Allocating tax items to beneficiaries: another K-1
  • Comprehensive DNI case study, with principal (cost and FMV) and income reconciliation
  • Comprehensive trust and estate case studies, with filled-in forms




Experience with the preparation of income tax return.




  • This seminar qualifies for CFP credit.
  • This seminar qualifies for IRS credit.

Course materials are distributed electronically. To access the materials visit My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.


Robert Greenberg

Robert E. Greenberg, J.D., LL.M.

Surgent Professional Education

Robert E. Greenberg is the tax department manager at Rogoff & Company, P.C., a twenty-person CPA firm with offices in New York City and Long Island. He is also an attorney admitted to practice in New York State. For the past thirty years, he has been involved in estate and gift planning, charitable-giving techniques, and elder law issues. Specific areas of practice include, but are not limited to, the following: *Preparation of wills and trusts *Trust and estate administration, including the preparation of Forms 706, 709, and 1041 *Estate-tax minimization strategies, including life insurance trusts, family limited partnerships, grantor retained annuity trusts, intentionally defective grantor trusts, charitable trusts, and qualified personal residence trusts *Generation-skipping tax issues *Corporate and partnership tax planning. Mr. Greenberg has served as an adjunct tax professor at C.W. Post University, has taught in the adult education program at Hofstra University, and has lectured for various organizations. He earned an LLM in taxation from New York University.


$389.00 - Non Member

$289.00 - Member

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Qualifies For

  • CFP