Form 1041 Advanced Series Part 3: Sec.199, Sec.67g & Charitable Deductions 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 challenges preparers of fiduciary tax returns face when trying to apply new tax laws often targeted for individuals to non-grantor trusts. This webinar explores in depth the limitations posed by the new tax rules under IRC Sec. 67(g). It also explores presentation issues when the entity has Qualified Business Income (QBI) that results in a Sec. 199A deduction. Lastly, it explores difficult issues that can arise with the charitable contribution deduction.
Highlights
- Review of New Rules under IRC Sec. 67(g)
- Review Surprises to Simple Trusts under IRC Sec. 67(g)
- Presentation Issues with IRC Sec. 199A Deduction and the Tier System
- Special Rules Relating to the Charitable Contribution Deduction
- Problem Examples
Prerequisites
Form 1041 Advanced Workshop Part 2
Designed For
Tax practitioners, accountants and financial professionals.
Objectives
- Determine the application of individual tax rules to non-grantor trusts
- Recognize how to calculate the limitations under new law for certain deductions
- Identify placement on the tax forms to incorporate the special deduction rules
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