Gear Up

Course Detail

Income Tax for Estates and Trusts-Form 1041 - 2022 (Live Online Seminar)  

CATEGORY: Taxation
  Live Online Seminar
8 CPE Credits
Level: Basic
This course addresses the fiduciary income tax return-Form 1041. Coverage includes essential terminology of decedent’s estates as well as the probate process. Trusts (simple vs. complex, revocable vs. irrevocable and inter vivos vs. testamentary) are explained in detail with particular emphasis on the essence of the trust concept. This will help mitigate the angst that often plagues the tax preparer when working with trusts. Also included is an introduction to fiduciary accounting (principle vs. income). New this year is a detailed discussion of community property as 25% of the U.S. population live in community property states. Recent developments in estate tax are covered in the “What’s New” chapter. The mysteries of “income in respect of a decedent” are plumbed. Also, particular attention is focused on the income distribution deduction as Form 1041 is the only place in the world of tax where this notion is found. This course includes a detailed walk-through of Schedule B. All this as well as specialized topics such as Tier 1 and 2 distributions, the separate share rule, stale trusts, terminations and special needs trusts. 

The Gear Up 2022 in-person seminar offerings are being held in a limited number of select locations. For a listing of all Gear Up sponsored in-person events click here.

We partner with sponsoring state associations to provide both live, in-person, and online seminars. To learn where you may reach your local partners click here.

Transfers/Cancellations - In light of the ongoing COVID-19 situation, our cancellation policy affords you the flexibility to confidently pursue the education you need. Click here for policy details. Does not apply to association or society events.

Gear Up comprehensive courses cover key tax issues for completing complicated returns, including in-depth coverage of recent legislation, and law developments to help the busy practitioner stay current. 

Going virtual has never been easier and a better value!

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Course outline