K-1s for 1041 Self-Study
Beneficiaries of an estate or trust receive Schedule K-1 (Form 1041), Beneficiary's Share of Income, Deductions, Credits, etc., to properly report their share of the estate or trust’s activity on their individual tax return. This course examines what you need to know to properly report the information provided to the beneficiary on a Schedule K-1 on their individual tax return.
Upon completion of this course, you will be able to:
- Identify the character of pass-through income, deductions and credits from an estate or trust
- Describe the various items reported on Schedule K-1
- Summarize how to report Schedule K-1 items on the beneficiary’s return
- Summarize how to report items on the beneficiary’s return that are associated with estate or trust interest but not reported on Schedule K-1
This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.