Course

1041 Preparation of Estates & Trusts

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Event Details

Thursday, September 19, 2019

8:00am – 11:30am
(Registration: 7:30am)

Location

Hilton Garden Inn

2465 Grant Rd

Billings, MT 59102

406-655-8800

Field of Study

Taxes

CPE Credit

4 hours CPE credit

Course Code

TPET-19

Instructor

Level of Knowledge

Intermediate

Vendor

Federal Tax Workshops Inc

Prerequisites

A basic working knowledge of Form 1041.

Description

This program examines the critical issues, rules and special opportunities when preparing your clients Form 1041 U.S. Income Tax Return for Estates and Trusts. Learn what is considered taxable income; filing requirements and deadlines; and the impact of the 3.8 percent Medicare surtax on net investment income. The course will also highlight the 10 Principles of Tax Accounting for Trust Income.

Highlights

  • 2019 rates and brackets
  • Calculating a trust's AGI
  • The 10 principles of tax accounting for trust income
  • Filing requirements, deadlines and penalties
  • 3.8% "Medicare" surtax on Net Investment Income (NII)
  • Section 643 (g) Election
  • Taxable income of trusts, estate and beneficiaries
  • Deductions
  • Distributions

Objectives

Upon completion of this course, you will be able to:

  • Provide a working knowledge of tax rules and guidelines of estates and trusts.
  • Discuss planning and potential pitfalls.

Designed For

Experienced CPAs who work with trusts and estates.

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