​​​Trust Reporting with Confidence On-Demand Workshop


Pre-order On-demand available in December

Premium: $0 | Professional: $182 | Basic: $231 | Nonmember: $243


The first step to preparing a trust return is to understand the various types of trusts, as you’ll need to know how to accurately prepare your clients’ returns. This workshop dives into how and why various types of trusts are created, the income tax filing requirements, and determining the difference between simple and complex trusts.

When preparing a trust return, you’ll need to understand when the trust is treated as disregarded and when the activity is reported directly on the grantor’s tax return. You’ll learn the difference between fiduciary accounting income and distributable net income, and who pays the tax – the grantor, trust or beneficiary. We’ll wrap up by completing a basic Form 1041, U.S. Income Tax Return for Estates and Trusts, for the trust and Schedule K-1 (Form 1041), Beneficiary’s Share of Income, Deductions, Credits, etc., for the beneficiaries.


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

  • Identify the different types of trusts and their filing requirements
  • Analyze the trust documents
  • Distinguish between a simple or complex trust
  • Determine whether the trust is a grantor or nongrantor trust, and revocable or irrevocable
  • Summarize what income is reported and which expenses are deductible on Form 1041 for a trust
  • Assess when the §645 election should be made
  • Summarize the tax effect of distributions made to beneficiaries
  • Calculate distributable net income (DNI), fiduciary accounting income (FAI) and the income distribution deduction (IDD)
  • Prepare a basic Form 1041 and Schedule K-1 for a trust

Course Details

This workshop includes the presentation slides ​and access to the workshop recording.

​Presented by: Jaye E. Tritz, EA, CFP
Course Year: 2021
Duration: 8 credit hours
Course Level: Basic
Prerequisite: None
Advanced Preparation: None
Delivery Method: QAS Self-Study

CPE CreditsDesignationField of Study
AFSPFederal Tax Law Topic
EAFederal Tax Law Topic
CRTPFederal Tax Law Topic

How to Earn CPE

To receive credit for this on-demand online workshop, you must make at least one attempt to answer each of the review questions included with the 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.​​

eweb keepalive image