2024 Guide to Preparing Form 1041 for Estates and Trusts
Wednesday, August 28, 2024
Webcast or Webinar, Online
12:00PM - 4:00 PM (opens at 11:30AM) EST
4Credits
Technical Business
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Course Type: Webcast
Course Code: 24/AC129081
Level: Intermediate
Vendor: ACPEN
Field of Study: Taxes
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.
Objectives:
- Apply the most recent tax rules and guidelines when preparing client estates and trusts returns
- Identify planning ideas and potential pitfalls
Major Topics:
- 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
Major Topics:
- 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