Fiduciary Taxation Part 3: Complex Trusts & Charitable Deduction 2024
2.00 Credits
Member Price $89
Non-Member Price $119
Overview
During part 3, of this 4-part series, we’ll focus on the accounting and taxation of Complex Trusts. Using a series of calculations, determine whether the fiduciary or the beneficiary bears the burden of taxation and if the trust or estate is treated as a taxpaying entity or a conduit. The requirements and use of a charitable contribution deduction are also reviewed and its relationship with and difference from fiduciary accounting.
Highlights
- The Differences between a Simple and Complex Trust
- The Use of the Tier System with Complex Trusts
- Review of Basic Requirements of the Charitable Contribution Deduction under IRC Sec. 642(c)
- Preparation of a Tax Spreadsheet for a Complex Trust
- Preparation of a Tax Spreadsheet for a Complex Trust with a Charitable Contribution Deduction
- Complex Problem Form 1041 Examples with Spreadsheets and Exhibits
Prerequisites
Fiduciary Taxation Part 2: Fiduciary Accounting & Simple Trusts
Designed For
Tax practitioners, accountants and financial professionals.
Objectives
- Recognize the difference between a simple and complex trust
- Determine whether you have a simple or complex trust
- Identify the special issues related to a complex trust
Preparation
None
Leader(s):
Leader Bios
Jacqueline Patterson, CalCPA Education Foundation
Jacqueline A. Patterson, JD, MBT, CPA, is a partner in the Los Angeles based firm of Haney, Buchanan & Patterson, LLP. She is a member of the California State, Los Angeles, and Beverly Hills Bar Associations. Ms. Patterson has written and facilitated full day tax seminars in the areas of corporate taxation, the income taxation of trusts and estates, tax research and planning, real estate transactions, charitable trusts and received the Foundation’s Meritorious Service Award in 2000.
Non-Member Price $119
Member Price $89