1041 Preparation of Estates & Trusts
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.
- 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
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.
Experienced CPAs who work with trusts and estates.