Overview:
Form 1041 is among the most confusing returns that tax professionals prepare. In this informative webinar, based on real-life case scenarios, you will learn about:
- Best techniques for preparing Form 1041
- Gathering information from trustees and fiduciaries
- The impact of various election options
Objective:
To provide preparers with a working knowledge of applicable tax laws, and the ability to prepare complete and accurate fiduciary income tax returns.
Emphasis:
- Filing requirements for estates and trusts
- Simple and complex trusts
- Choice of annual accounting period
- Calculation of taxable income
- Capital gains
- Tax-effective distributions to beneficiaries
- Grantor trusts
- Income in respect of a decedent
- Estimated tax rules