Course Information

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1041 Preparation and Planning 1: Tax Fundamentals for Trusts and Estates (2012 Edition)
Author: Sidney Kess and Barbara Weltman

Description:

1041 Preparation and Planning 1: Tax Fundamentals for Trusts and Estate reviews fiduciary taxation fundamentals with a frequent emphasis on the rationale of the rules. Alerts of new changes for the year are provided. Examples illustrate how related code rules apply. Blank forms and schedules for particular items are included, as well as practice pointers, pitfalls and recent developments, with cases and rulings noted. The course includes information regarding Form 1041, filing requirements, how to allocate expenses, and other relevant issues.

Upon completion of this course, practitioners should be able to:

  • Identify when Form 1041 is due, how it can be filed and where to file it
  • Correctly identify different types of trusts and estates
  • Accurately complete the basic information on the top of page 1 of Form 1041
  • Correctly answer the questions in the "Other Information section on page 2 of Form 1041
  • Explain the basics of fiduciary accounting
  • Correctly allocate expenses between income and principal
Course Details:
Price:  $132.93
Field of Study:  Accounting
Prerequisites:  None
Level:  Basic
CTEC course number:  1075-CE-9889
Course was last updated on:  05/08/2013
Library:
Tax Return Preparation

Technical Requirements:
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Credit Available For: Units
CFP (Accepted by the CFP Board) 3.00 CPE
CPE 7.00 CPE
CTEC Federal 7.00 CE
Enrolled Agent (Accepted by the IRS) 7.00 CPE
QAS 7.00 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.