Estate & Trust Primer

Protect your clients' assets and shield their estates from increased taxation brought about by the changing tax code. This CPE course will help you to understand the tax obligations of trusts and estates and how these obligations affect beneficiaries. The course, which has been updated for the Tax Cuts and Jobs Act (TCJA), provides exercises and examples that reflect the calculation and allocation of taxable income and its presentation on the appropriate forms. You will also learn how to prepare federal Form 1041 and the accompanying schedules.

Learning Objectives

Learning Objective: 

When you complete this course you will be able to:

  • Apply the concepts of federal income taxation of estates and trusts.
  • Calculate the gross income of trusts and estates.
  • Describe which deductions and credits are allowed for estates and trusts.
  • Define distributable net income and understand its significance.

Topics Discussed

Topics Discussed: 
  • How trusts and estates are taxed under the internal revenue code
  • What is a trust, a simple trust and a complex trust
  • How the income of a trust or estate is defined for tax purposes
  • What the ordinary deductions are and what credits are allowed
  • How the deduction for distributions to beneficiaries are determined
  • How trust and estate beneficiaries are taxed
  • What a "grantor trust" is and how it is taxed
  • How Form 1041 is prepared

<< Back I want more information on group training

COURSE CODE

TSE.ETP

FIELD OF STUDY

Taxes

CPE CREDIT HOURS

4

KNOWLEDGE LEVEL

Basic

INTENDED AUDIENCE

CPAs, enrolled agents, and financial planners with basic knowledge of federal income tax concepts, and an interest in Income Taxation of Estates and Trusts and preparing Form 1041.

PREREQUISITE

Basic knowledge of individual income taxation

ADVANCED PREPARATION

None

DELIVERY METHOD

Group Live
Self-Study On-Demand

Share with  

For individual training, visit:

(U.S.) AICPAstore.com

(Outside the U.S.) CGMAstore.com


CONTACT A TRAINING REPRESENTATIVE:


1-800-634-6780 Option 1
aicpalearning@aicpa.org

Copyright © 2006-2021 American Institute of CPAs.