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Session details
- Outline the filing requirements for a decedent's estate
- Identify income and expenses reported on an estate Form 1041
- Calculate the income and expenses of an estate
- Identify requirements to treat a revocable trust as part of an estate
- Report estate income, credits and deductions to beneficiaries
- Prepare Form 1041
- Instructor
- Kathryn Keane, EA
- Duration
- 400 minutes
- Delivery method
- Group Live
Description
When a taxpayer passes away, their assets become part of their estate. Those assets can generate income, which may require the taxpayer (decedent) to file Form 1041, U.S. Income Tax Return for Estates and Trusts (fiduciary income tax return). This course explains the basic rules governing the estate's administration and how to prepare Form 1041 for a decedent's estate. Learn about the income and expenses an estate may have and the accounting concepts fundamental to preparing an estate income tax return. Illustrative examples are contained throughout the course that culminate in a completed Form 1041 at the end of the course.
Objectives
Upon completion of this course, you will be able to:
Details
CPE
| Governing body: IRS | CPE credits: 8 | Designation: AFSP | Field of study: Federal Tax Law Topic |
| Governing body: IRS | CPE credits: 8 | Designation: EA | Field of study: Federal Tax Law Topic |
CPE sponsor disclosure
The CPE associated with this education is provided by the New York NATP Chapter and is independent of national NATP sponsorship.
IRS sponsor number: SC1N9
See our CPE sponsor page for more information on reporting.