Introduction to Trusts and Form 1041 Self-Study


In this introductory self study course, you’ll gain a fundamental knowledge of trusts, including how and why various types of trusts are created, the rights and duties of the parties involved, and fiduciary income tax filing requirements. This course provides information on how to complete a basic income tax return for a trust by analyzing its income, deductions, and distributions during its existence and upon termination, including how to file Form 1041.


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

  • Identify the filing requirements for trusts.
  • Recognize accounting periods available to trusts.
  • Recognize accounting methods available to trusts.
  • Calculate the appropriate estimated tax payments for a trust.
  • Compute the basis of trust assets.
  • Compute income in respect of a decedent.
  • Distinguish between expenses that are subject to the 2%-of-AGI limitation and those that are not subject to the limit.
  • Allocate deductions among income types.
  • Summarize the tax effect of distributions made to beneficiaries and how income is allocated.
  • Calculate distributable net income (DNI), fiduciary accounting income (FAI) and the income distribution deduction (IDD).
  • Complete a basic Form 1041 and Schedule K-1, Beneficiary’s Share of Income, Deductions, Credits, etc., for a trust.

Course Details

This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.


Presented by:

How to Earn CPE

To receive credit for this self-study course, you must successfully pass the course exam with a score of 70% or better.

Self-study courses and exams generally expire one year from the date of purchase. The AFTR course expires on December 31 of each year as required by the IRS.

Cancellation Policy

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

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