21WI-0661: Estate & Trust Primer (Webinar)
Friday, December 17, 2021
Taxes - Technical (4.0)
, CPA/PFS, ABV, CVA,CF
American Institute of Certified Public Accountants
Standard Member Fee
Standard Nonmember Fee
Protect your clients' assets and shield their estates from increased taxation brought about by the changing tax code. This webcast will help you to understand the tax obligations of trusts and estates and how these obligations affect beneficiaries. The webcast provides exercises and examples that reflect the calculation and allocation of taxable income and its presentation on the appropriate forms. You will also learn how to prepare federal Form 1041 and the accompanying schedules.
Who should take this program?
CPAs, enrolled agents, and financial planners with basic knowledge of federal income tax concepts, and an interest in Income Taxation of Estates and Trusts and preparing Form 1041.
How trusts and estates are taxed under the internal revenue code
What is a trust, a simple trust and a complex trust
How the income of a trust or estate is defined for tax purposes
What the ordinary deductions are and what credits are allowed
How the deduction for distributions to beneficiaries are determined
How trust and estate beneficiaries are taxed
What a "grantor trust" is and how it is taxed
How Form 1041 is prepared
Identify the concepts of federal income taxation of estates and trusts.
Calculate the gross income of trusts and estates.
Recall which deductions and credits are allowed for estates and trusts.
Recall distributable net income and understand its significance.
NASBA ID#: 112891
Group Internet Based
Basic knowledge of individual income taxation