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22WC-1069: Form 1041 Advanced Workshop: Part 2 of 4 (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Monday, January 9, 2023
12:00pm - 1:50pm Central Time
2 CPE (2 technical)

One of the basic rules in fiduciary taxation is that the person or entity that receives the taxable income from the trust or estate is taxed on that income. The calculation of Distributable Net Income (DNI) and the Distribution Deduction determine the allocation of the tax burden between the fiduciary entity and the beneficiary. Therefore, when distributions are made that "carry out" DNI, the fiduciary entity operates as a conduit where the beneficiaries are taxed on the amounts reflected on the Schedule K-1. The fiduciary entity receives a corresponding distribution deduction. When taxable income is accumulated by the entity, the fiduciary pays the tax. We will explore the various distributions made to beneficiaries and their impact on the entity's taxation. Form 1041 Advanced Workshop Part 1 | Form 1041 Advanced Workshop Part 2 | Form 1041 Advanced Workshop Part 3 | Form 1041 Advanced Workshop Part 4

Major subjects

  • Calculating DNI & the Distribution Deduction
  • Determining Types of Distributions and Whether a Distribution "Carries Out" DNI
  • In-Kind Distributions & the Impact on the Distribution Deduction
  • Depreciation and the Distribution of In-Kind Property
  • Distributions that Result in "Kenan Gain"
  • Funding a Pecuniary Bequest with Depreciated Property
  • IRC Sec. 643(e)
  • The Separate Share Rule
  • Understanding IRC Sec. 199A as it Pertains to Fiduciary Entities

Learning objective(s)

  • Calculating DNI & the Distribution Deduction
  • Determining Types of Distributions and Whether a Distribution "Carries Out" DNI
  • In-Kind Distributions & the Impact on the Distribution Deduction
  • Depreciation and the Distribution of In-Kind Property
  • Distributions that Result in "Kenan Gain."
  • Funding a Pecuniary Bequest with Depreciated Property
  • IRC Sec. 643(e)
  • The Separate Share Rule
  • Understanding IRC Sec. 199A as it Pertains to Fiduciary Entities

Who should take this program?

Tax practitioners, accountants and financial professionals.

Fees

Our records indicate you are a nonmember. If you register, you will be charged $109.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.
Standard Member Fee $79.00
checkmarkStandard Nonmember Fee $109.00

More program information

Location Online
Area
of study
Financial planning
Field(s)
of study
Taxes - Technical (2.0)
Level Intermediate
Format Group Internet Based
Sponsor CalCPA Education Foundation
NASBA ID#: 104822
Prerequisites Prereq. Form 1041 Advanced Workshop Part 1
Advance
prep
None
Cancellation
policy
Receive a full refund if you cancel at least four business days before the event start date. Learn more

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If you have questions about this event, please call us at 952-831-2707.