CPE Credits: 2
Course Level: Intermediate
Prerequisites: Basic knowledge of trust taxation
Advance Preparation: None
Fees: $49 for Members and $60 for Nonmembers
Summary
As clients age, it’s natural that they become concerned with passing assets to their loved ones. With this in mind, more and more taxpayers are establishing trusts as a vehicle to transfer assets. Trust tax preparation presents great opportunities for tax preparers who wish to grow their practices. This webinar will focus on the unique rules and terminology of trusts to help you understand trusts better and thus be able to remain compliant while assisting taxpayers with proper planning.
Objectives:
Upon completion of this webinar, you will be able to:
- Define trust terminology such as DNI, IDD, and DRD.
- Complete Form 1041, U.S. Income Tax Return for Estates and Trusts.
- Identify relevant provisions contained in a trust document.
- Determine when the trust terminates and identify the potential tax consequences to the beneficiaries.
Presenter: Steven O'Rourke, EA