[WEB] Income Taxation of Trusts and Estates - Planning and Compliance

Course Details


Thursday, April 27, 2023

8:30am – 3:30pm
(Registration: 8:30am)

Course Number


CPE Credit

8.0 hours CPE credit


Level of Knowledge



Kaplan Financial Education


General tax knowledge


Subchapter J of the Internal Revenue Code governs income taxation of estates and trusts - an area of tax law with numerous special rules, regulations, and professional customs. Form 1041 is unlike any other income tax return a tax professional encounters. This program explains the unique tax rules and opportunities for the knowledgeable tax advisor to provide valuable tax services to fiduciaries - from special tax accounting to options for reporting trust income and expenses. The program will contain state-specific information on the state's principal and income tax (including unique features of that Act) that is used to compute "accounting income" necessary for preparation of the Form 1041.


  • Estate of decedent as a taxpayer—filing requirements and tax planning
  • Types of trusts
  • Trust accounting and available tax elections
  • Filing requirements
  • Identifying deductible and nondeductible expenses for a trust or estate
  • Unique classification of some income and expenses
  • Computing accounting income under a state's principal and income act
  • Distributable net income—the concept and its application


Participants will be able to:

  • Advise fiduciaries regarding their tax duties for the income tax reporting
  • Describe the types of trusts and their income impact
  • Explain what is involved with trust accounting and dealing with the applicable state principal and income act
  • Explain the filing requirements for trusts and the preparation of Form 1041
  • Deal with unique issues for income and expenses affecting trusts and estate income taxes
  • Describe distributable net income (DNI) and how it impacts taxes

Designed For

Accountants who advise fiduciaries about tax matters and/or prepare Forms 1041. May also be suitable for accountants in public practice or income tax functions of trust companies.

Course Pricing

Early Registration Member Fee

Applicable if you are a HSCPA member in good standing and register by August 8, 2023.

Member Fee

Applicable if you are a HSCPA member in good standing.

Early Registration Non-Member Fee

Applicable if you are not a HSCPA and register by August 8, 2023.

Non-Member Fee

Applicable if you are not a HSCPA member.

Your Price $430.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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