Guide to Preparing Form 1041 for Estates and Trusts
Overview
This program examines the critical issues, rules, and special opportunities when preparing your clients' Form 1041 US Income Tax Return for Estates and Trusts. Learn what is considered taxable income; filing requirements and deadlines; impact of the 3.8 percent Medicare surtax on net investment income; and the 10 principles of tax accounting for trust income.
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.
Delivery Method: Individual webcast
CPE Credit: Taxes
Program Level: Intermediate
Highlights
- Current rates and brackets
- Calculating a trust's AGI
- Filing requirements, deadlines and penalties
- 3.8% Medicare surtax on net investment income (NII)
- Simple vs. complex trusts
- Grantor Trusts: Four options to report activity
- Section 643 (g) Election
- Taxable income of trusts, estate and beneficiaries
Prerequisites
A basic working knowledge of Form 1041 and estates and trusts
Designed For
Experienced CPAs working with estates and trusts
Objectives
- Apply the most recent tax rules and guidelines when preparing client estates and trusts returns
- Identify planning ideas and potential pitfalls
Preparation
None
Leader(s):
Leader Bios
Doug Van Der Aa, Federal Tax Workshops
Douglas J. Van Der Aa, CPA, JD, has been a highly rated speaker and seminar leader for CPA Associations and other organizations throughout the country for more than 18 years. Doug has over 25 years of professional experience, including tax practice in CPA firms and the practice of transactional business and real estate law as an attorney. He taught for 12 years as an Adjunct Instructor and for one year as Assistant Professor of Accounting and Taxation for Grand Valley State University's Seidman College of Business, where he taught in both the undergraduate and MST programs.
Non-Member Price $159.00
Member Price $129.00