The Final 1040 and 1041 On-Demand Workshop



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The job of a tax professional is multi-faceted and sometimes you are called to assist your clients with tax issues after the death of a loved one. This requires knowledge of Form 1040 and 1041. If you don’t know how to complete these forms and report trusts, you could be doing your clients a disservice.

This workshop will provide an in-depth study with examples of how to prepare the decedent’s final Form 1040 and 1041. It will also cover changes in estate and trust taxes and planning brought about by the Tax Cuts and Jobs Act. By the end, you’ll have a knowledge of trusts and estate income returns that may be required after the death of a taxpayer.


Upon completion of this course, you will be able to:

  • Determine what items of income and deduction should be reported on the decedent’s final Form 1040 and the correct filing procedures for that return.
  • Utilize a decedent’s net operating loss (NOL), capital loss carryovers, passive losses, and other tax attributes on the final Form 1040 to minimize tax.
  • Take the necessary steps to assist the surviving family members in this stressful situation after the death of a taxpayer and at the creation of the estate.
  • Advise the executor of the estate or trustee of the trust with information gathering and other duties and obligations of their role.
  • Calculate distributable net income, fiduciary accounting income, and the income distribution deduction in compliance with both tax law and the governing document.
  • Understand the basic types of trusts used in legacy planning, including their design, function and correct tax reporting both before and after the grantor’s death.
  • Prepare a Form 1041 for a simple estate and what is required to treat a revocable trust as a part of the estate.
  • Prepare Schedule K-1 to accurately report estate interest, dividend, capital gain, and miscellaneous income so the beneficiaries can accurately prepare their individual tax returns.

Course Details

This course includes presentation slides and an online workshop recording.

Presented by: Jaye Tritz, EA, CFP®
Course Year: 2019
Duration: 8 Credit Hours
Course Level: Intermediate
Prerequisite: Knowledge of federal income taxation
Advanced Preparation: None
Delivery Method: QAS Self Study

CPE CreditsDesignationField of Study
IRS8AFSPFederal Tax Law Topic
IRS8EAFederal Tax Law Topic
CTEC8CRTPFederal Tax Law Topic

How to Earn CPE

To receive credit, you must make at least one attempt to answer each of the review questions included with the course video. You also must successfully pass the course exam with a score of 70% or better.

The course and exam will expire one year from the date of purchase.

Cancellation Policy

​Because this is an online education offering, it is nonrefundable.​

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