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This comprehensive course guides you through taxation and the available options and elections. Discover the correlation between fiduciary and income tax rules for trusts and estates, and accounting for income and expenses. Study the taxation of trusts and estates, including the effects on beneficiaries. And finally, explore how to prepare a Form 1041.
This course affords an understanding of the federal income taxation of trusts and decedent's estates, along with the effects certain tax scenarios have on the beneficiaries thereof. Also covered at considerable length is the application and preparation of Form 1041.
CPAs, enrolled agents, and financial advisers
Prerequisite: Basic understanding of income tax
Advanced Preparation: None