Course Information

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706 Preparation and Planning 2: Property of the Decedent (2011-2012 Edition)
Author: Sidney Kess and Barbara Weltman

Description:

The primary goal of the second course in this series is to educate the preparer on how to accurately value and properly present the assets of the gross estate. It defines the “gross estate” in detail and discusses titling of assets and how titling affects presentation of some schedules.

Other assets such as annuities, qualified monies, IRAs, and powers of appointment are also discussed. The course will teach the professional how to determine the appropriate placement of assets among the schedules and how to value the assets.

Upon completion of this course, the professional will be able to:

  • Complete Schedule A and Schedule A-1
  • Understand special use valuation
  • Correctly report stocks and bonds held solely in the decedent’s name
  • Report mortgages, notes and cash held by the decedent
  • Report insurance on the decedent’s life
  • Complete Schedules B, C, and D
  • Report property that is jointly owned with a spouse
  • Report property that is owned jointly with someone who is not a spouse
  • Value and report miscellaneous assets, including interests in family limited partnerships, unincorporated businesses, lottery winnings, and collectibles
  • Determine which lifetime transfers are includible in the decedent’s estate
  • Determine which powers of appointment are includible in the decedent’s estate
  • Report annuities and retirement plan assets
  • Complete Schedules G, H, and I
Course Details:
Price:  $94.95
Field of Study:  Accounting
Prerequisites:  706 Preparation and Planning 1: Tax Fundamentals or equivalent knowledge
Level:  Intermediate
CTEC course number:  1075-CE-9878
Course was last updated on:  03/09/2012
Library:
Tax Return Preparation

Technical Requirements:
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Credit Available For: Units
CFP (Accepted by the CFP Board) 2.00 CPE
CPE 5.00 CPE
CTEC Federal 5.00 CE
Enrolled Agent (Accepted by the IRS) 5.00 CPE
QAS 5.00 CPE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.