2024 Guide to Preparing Form 1041 for Estates and Trusts
4.00 Credits
Member Price $129
Non-Member Price $159
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.
Highlights
- 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
Prerequisites
A basic working knowledge of Form 1041 and estates and trusts
Designed For
Experienced CPAs working with estates and trusts
Objectives
- Apply the most recent tax rules and guidelines when preparing client estates and trusts returns
- Identify planning ideas and potential pitfalls
Preparation
None
Leader(s):
Leader Bios
Douglas Van Der Aa, Federal Tax Workshops
Doug Van Der Aa, CPA, J.D., has been a discussion leader for Federal Tax Workshops, Inc., for the past 10 years. He has extensive experience in leading discussions in conferences, seminars and webinars. Doug has over 20 years of experience, including tax practice in CPA firms and the practice of transactional business and real estate law as an attorney. Formerly, Doug was a tax manager with Hungerford, Aldrin, Nichols & Carter, P.C. in Grand Rapids, Michigan, where his practice concentrated on the tax needs of mid-sized closely held businesses, with their related pass-through entities, complex individual returns including AMT issues, together with their estates and trusts.
Non-Member Price $159
Member Price $129