1041's for Trust & Estates
seminarRegistration Information:
Sponsor: North Dakota Society of Accountants
Phone: 701-255-6502
Website: http://www.ndsacct.com
Product Description
This course is written and taught by practicing CPA and national trust and estate tax expert Bill Leonard CPA from the point of view of actual practitioners. Beginning with a discussion of when returns are required, we guide participants through the 1041 preparation maze while providing hands-on guidance from real, expert practitioners regarding types of trusts, return preparation, compliance, allocations and distributions. Updated for the newest estate planning rules under President Biden, the course also discusses administration and accounting in 1041’s and practical planning advice throughout the day.
Attendee Requirements
Call society/sponsor for location and hotel information as needed.
Location Details
Address(es):
Webinar
Fargo, ND 58103
Prerequisites
2-4 years tax preparation experience.Field of Study
Taxes-8.00Hours
8NASBA Categories
TaxesCourse Level
IntermediateCourse Objectives
Learning Objectives: Upon completion of this course you will be able to:
1. Define estate
2. Identify the duties of the fiduciary
3. Identify the characteristics of QSSTs
4. Determine what qualifies as a grantor trust
5. Identify the qualities of estates and trusts
6. Identify the purpose of the probate court
7. Identify the purpose of the Income Distribution Deduction
8. Determine how to compute amortization allowances
9. Define short tax year
10. Determine what qualifies as IRD
11. Identify the options for IRAs inherited by a spouse
12. Define distributions in kind
13. Define discretionary income distributions
14. Define Irrevocable Living Trusts
15. Determine the advantages of Revocable Living Trusts
Speaker Details
Disclaimer
All policies and registration and fees are established by society/sponsor.