Menu

1041's for Trusts & Estates - VIRTUAL

Overview

When it comes to protecting and optimizing your clients' trusts and estates, trust TaxSpeaker's expertise. Our 1041's for Trusts and Estates course is led by Bill Leonard, CPA, who is not only a practicing tax professional but also is Taxspeaker's expert on trust and estate tax matters. Beginning with a discussion of when returns are required, he guides participants through the 1041 tax preparation maze with hands-on guidance regarding types of trusts, return preparation, compliance, allocations, and distributions. In addition, we've taken care to update this course with 2023 and 2024 changes to estate planning rules, administration, and accounting in 1041's, plus practical tips to plan throughout the workday. During this course, we will define estates, a short tax year, distributions in kind, discretionary income distributions, and irrevocable and revocable living trusts. The instruction also includes identification of the duties of the fiduciary, characteristics of other types of trusts, purpose of the probate court and income distribution deduction, and options for IRA's inherited by a spouse. Upon completion, attendees will also have thorough competence to determine qualifiers of a grantor trust, how to compute amortization allowances, what qualifies as IRD, and the advantages of revocable living trusts.

Prerequisites

2-4 years tax preparation experience

Objectives

Upon completion of this course you will be able to:

  1. Define estate
  2. Identify the duties of the fiduciary
  3. Identify the characteristics of QSSTs
  4. Determine what qualifies as a grantor trust
  5. Identify the qualities of estates and trusts
  6. Identify the purpose of the probate court
  7. Identify the purpose of the Income Distribution Deduction
  8. Determine how to compute amortization allowances
  9. Define short tax year
  10. Determine what qualifies as IRD
  11. Identify the options for IRAs inherited by a spouse
  12. Define distributions in kind
  13. Define discretionary income distributions
  14. Define Irrevocable Living Trusts
  15. Determine the advantages of Revocable Living Trusts

Register Now

Materials are generally available 3 days in advance of an event. Once you have downloaded the manual, we are unable to cancel your registration.

Event Code:

10411025

8 CPE Credits
Tax: 8 Credits

Registration

Member Price:
$359
Non-member Price:
$459
Register by October 11th for Early Bird Pricing.

Registration is open through 10/24.

Friday, October 25th

10:00am to 6:00pm
(Check-In 9:30am)

Add to Calendar

Instructor

Bill Leonard