22WC-1085: Form 1041 Advanced Workshop: Part 4 of 4 (Webinar)

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

Friday, January 13, 2023
12:00pm - 1:50pm Central Time
2 CPE (2 technical)

This final segment of the Form 1041 Workshop addresses the impact when the fiduciary exercises the power to adjust or the trust is or becomes a "unitrust." The allocation of the tax burden often depends on whether capital gains are included in DNI. Also addressed are the special income tax issues that arise on the grantor's death or the first spouse. The once docile revocable living trust ignored for income tax purposes now comes to life and requires attention. Trust administration is just as rigorous as probate administration, if not more rigorous. We will review the importance of an approach to Trust Administration and two important income tax tools. 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

• Tax and Accounting for Total Return Trusts
• The Inclusion of Capital Gains in DNI
• A Review of the Expansive Nature of Trust Administration
• The Use of an Administrative Trust I & its Advantages
• The Successor Trustee of an Administrative Trust and whether is Simple or Complex?
• Making the Sec. 645 Election & the Advantages
• Choosing a Fiscal Year for the Administrative Trust
• Understanding the Duration of the Sec. 645 Election

Learning objective(s)

• Understand the Benefits of Total Return Trusts
• Determine When Capital Gains are Included in DNI
• Review the Depth and Scope of Trust Administration
• Analyze the Administrative Trust
• Review the IRC Sec. 645 Election

Who should take this program?

Tax practitioners, accountants and financial professionals.

Fees

Standard Member Fee	$79.00
Standard Nonmember Fee	$109.00