Course Information

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1041 Preparation and Planning 5: Special Situations (2011 Edition)
Author: Sidney Kess and Barbara Weltman

Description:
1041 Preparation and Planning 5: Special Situations (2011 Edition) details the rules for completing Schedule J of Form 1041. Schedule J is used only for complex trusts that distribute accumulated income and that are still subject to the throwback rules. The course also reviews post-mortem planning for decedents' estates, and planning for the termination of trusts. Examples illustrate course concepts. Practice pointers and pitfalls are provided. A case study and filled-in form conclude the course.

Topics covered in this course include and overview of Schedule J, accumulation distribution, taxes imposed on undistributed net income, allocation to beneficiary, post-mortem planning for estates, and planning for the use of revocable trusts and for the termination of trusts.

Upon completing this course, you should be able to:

  • Explain the requirements for completing a Schedule J
  • Complete Schedule J
  • Execute post-mortem planning for decedents’ estates
  • Plan for the termination of trusts
Course Details:
Price:  $34.00
Field of Study:  Taxes
Prerequisites:  1041 Preparation and Planning 4: Schedule K-1 (2010 Edition)
Level:  Intermediate
CTEC course number:  1075-CE-9735
Course was last updated on:  11/02/2010
Library:
Tax Return Preparation
Wealth Management

Technical Requirements:
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Credit Available For: Units
CFP (Accepted by the CFP Board) 1.00 CPE
CPE 2.00 CPE
CTEC Federal 2.00 CE
Enrolled Agent (Accepted by the IRS) 2.00 CPE
QAS 2.00 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.