Tax compliance issues for fiduciary entities are sometimes confusing to practitioners due to the fact that 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), including a Line-by-Line presentation of the form. The practitioner will have a better understanding of entities and the basics of Subchapter J of the Internal Revenue Code. Understanding these areas will allow the practitioner to start their understanding of tax compliance in preparing the U.S. Income Tax Return for Estates and Trusts (Form 1041).
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.
DESIGNED FOR
CPAs, EAs, attorneys, and other tax professionals
BENEFITS
- Prepare the U.S. Income Tax Return for Estates and Trusts (Form 1041)
- List the basic issues of estates and trusts and discuss Subchapter J of the Internal Revenue Code
HIGHLIGHTS
- How to prepare a Form 1041
- Understanding of distributable net income (DNI)
- Understanding of income in respect of a decedent (IRD)
- Line-by-line instruction
- Specific issues regarding a decedent’s estate
- Specific issues regarding a trust
- Classification of trust entities
- Understanding various fiduciary issues
- Understanding the basics of Subchapter J of the Internal Revenue Code
COURSE LEVEL
Basic
ADDITIONAL NOTES
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