[WEB] Fiduciary Tax Workshop
Description
This course will enable participants to understand the principles of subchapter J and their relation to the Fiduciary Income Tax Return (Form 1041). Upon completion, participants will be able to prepare a Form 1041, understand Schedule B, and feel confident that the return has been prepared correctly.
Objectives
- Describe filing requirements, estimated tax payments, adoption of taxable years, and extension requests for Form 1041.
- Evaluate the §663(b) election and which expenses are subject to 2% AGI.
- Calculate taxable income and tax liability for a simple trust, a complex trust, and an estate, including fiduciary accounting income and DNI.
- Explain the difference between direct and indirect expenses and determine what expenses are chargeable to income and what expenses are chargeable to principal.
- Apply the 3.8% Medicare tax on net investment income to an estate or trust.
- Describe the difference between Tier 1 and Tier 2 beneficiaries.
- Determine the tax effect of distributions of property, including the §643(e)(3) election.
- Recognize common items that are income in respect of a decedent.
- Describe the basic requirements for a distribution of cash or property to qualify as a gift or bequest.
- Calculate and allocate the deduction under §199A for qualified business income between the estate/trust and the heirs/beneficiaries.
- Prepare a Form 1041 for a simple trust, a complex trust, and a decedent's estate.
Registration for this course has passed.
Course Pricing
Early Registration Member Fee
Applicable if you are a HSCPA member in good standing and register by October 18, 2022. |
$215.00 |
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Member Fee
Applicable if you are a HSCPA member in good standing. |
$265.00 |
Early Registration Non-Member Fee
Applicable if you are not a HSCPA and register by October 18, 2022. |
$365.00 |
Non-Member Fee
Applicable if you are not a HSCPA member. |
$415.00 |
Your Price | $415.00 |
CPE Choice
Learn more about CPE Choice.
This course does not qualify for CPE Choice.