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EST2413

Form 1041 training – types of trusts (grantor, simple, complex), basic trust concepts (TAI, DNI, TTI, IDD), and elections

Date
June 5, 2024
$4900
Standard Price
This product is also available as part of the following products:
Thumbnail for Advanced Estate Planning (as part of AICPA & CIMA ENGAGE 2024)
This includes sessions from the conference: Advanced Estate Planning (as part of AICPA & CIMA ENGAGE 2024)
Thumbnail for AICPA & CIMA ENGAGE 2024
This includes sessions from AICPA & CIMA ENGAGE 2024:

This session will provide an overview of the basics of the income taxation of estates and trusts including the structure of Subchapter J including the calculation of taxable income, the concept of distributable net income (DNI), the types of trusts (simple, complex and grantor), trust accounting income, the distribution system, the allocation of expenses among the classes of income, the fiduciary income tax charitable deduction, termination of a trust or estate and the election to deduction administration expenses on the Form 1041.

Learning Objectives

  • Recognize the basic elements of the income taxation of estates and trusts.
  • Recognize the distribution system and how the taxable income is allocated between the entity and beneficiaries.
  • Identify how the income taxation of trust and estates are taxed and reported on a Form 1041.

Speaker

Speaker Image for Jeremiah Doyle
SVP/Family Wealth Strategist, BNY Mellon Wealth Management

General
EST | CFP | EA

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