Introduction to Trusts and Form 1041 Self-Study


With this course, you will gain an introduction to 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.


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

  • Outline the components and proper administration of a trust
  • Identify the filing requirements for trusts
  • Recognize accounting periods and methods available to trusts
  • Calculate the appropriate estimated tax payments for a trust
  • Compute the basis of trust assets
  • Determine deductible trust expenses and proper allocation
  • Summarize the tax effect of distributions made to beneficiaries
  • Calculate income in respect of a decedent (IRD), distributable net income (DNI), fiduciary accounting income (FAI) and the income distribution deduction (IDD)
  • Complete a basic Form 1041, Income Tax Return for Estates and Trusts, 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.

eweb keepalive image