This site uses cookies to store information on your computer. Some are essential to make our site work; others help us improve the user experience. By using the site, you consent to the placement of these cookies. Read our privacy policy to learn more.


Estate & Trust Primer Logo aicpa

  Free |   CPE: 4.0 |   AICPA |   18 Apr 2020 |   Taxes |   AICPA Store
Who Will Benefit?
  • CPAs, enrolled agents, and financial planners with basic knowledge of federal income tax concepts, and an interest in Income Taxation of Estates and Trusts and preparing Form 1041
Key Topics
  • How trusts and estates are taxed under the internal revenue code
  • What is a trust, a simple trust and a complex trust
  • How the income of a trust or estate is defined for tax purposes
  • What the ordinary deductions are and what credits are allowed
  • How the deduction for distributions to beneficiaries are determined
  • How trust and estate beneficiaries are taxed
  • What a "grantor trust" is and how it is taxed
  • How Form 1041 is prepared
Learning Objectives
  • Identify the concepts of federal income taxation of estates and trusts.
  • Calculate the gross income of trusts and estates.
  • Recall which deductions and credits are allowed for estates and trusts.
  • Recall distributable net income and understand its significance.

This webcast is part of the Tax Staff Essentials program

Protect your clients’ assets and shield their estates from increased taxation brought about by the changing tax code.

This webcast will help you to understand the tax obligations of trusts and estates and how these obligations affect beneficiaries. The webcast, which has been updated for the Tax Cuts and Jobs Act (TCJA), provides exercises and examples that reflect the calculation and allocation of taxable income and its presentation on the appropriate forms.

You will also learn how to prepare federal Form 1041 and the accompanying schedules.

Topics covered:
  • Tax: Technical: Taxation of estates & trusts, Intermediate