Trusts Part III: Deductions
This webinar is the third of four webinars focusing on trusts required to file Form 1041. This webinar discusses Form 1041 deductions in detail using examples for lines 10 through 21, and also completes Schedules A and B of Form 1041.
Upon completion of this course, you will be able to:
- Identify what expenses can be deducted on Form 1041 for a trust.
- Identify deductions subject 2% of AGI limitation.
- Differentiate between distributable net income (DNI), fiduciary accounting income (FAI) and income distribution deduction (IDD).
- Calculate DNI, FAI and IDD for a trust.
Includes webinar recording, PowerPoint presentation and Q&A webinar transcript. CPE is issued after exam is successfully completed.
Jaye Tritz, EA, CFP