Guide to 1041 Preparation of Estates and Trusts
Thursday, September 12, 2019
This program will examine critical issues in preparing your clients Form 1041 U.S. Income Tax Return for Estates and Trusts. Learn where taxable income is determined differently from individuals; filing requirements and deadlines; reporting alternatives for grantor trusts; the calculation and allocation of DNI; and the impact of the new Section 199A 20% deduction on trusts, estates and beneficiaries. This course qualifies for PTIN credit. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event. This course covers 2018 fiscal year returns
- Provide a working knowledge of tax rules and guidelines of estates and trust 2018 returns.
- Discuss planning and potential pitfalls.
- Similarities and differences to individual taxation
- Filing requirements, deadlines and penalties: Section 645 election
- Simple or complex trusts?
- Grantor trust filing options
- Gross income
- Deductions: Notice 2018-61
- Distributable Net Income - DNI
- Section 199A deduction