This webcast presents problem examples that are common to many Form 1041 tax returns. The problems work through a spreadsheet, computation of necessary calculations and the presentation on Form 1041. The focus is on both simple and complex trusts.
• Work Through the calculations required by Form 1041 and Schedule K-1
• Understand the interrelationship between Accounting and Taxation
• Determine the Allocations among and between Multiple Beneficiaries
• Review basics of the Depreciation Deduction, Charitable Contribution Deduction, and the impact of tax-exempt income
• Review special rules for separate shares and the 65-day election
• Beneficiary no Capital Gains
• Beneficiary with Capital Gains
• Beneficiary impact of Sec. 67(g)
• Charitable Deduction
• Multiple Beneficiaries
• Accumulations and Distributions
Tax practitioners, accountants and financial professionals.
Fiduciary Taxation: Back to Basics—Part 2
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