Forms 1041 and 706 are possibly the most difficult and misunderstood tax returns that tax professionals prepare.To provide preparers with a working knowledge of applicable tax laws and the hands-on ability to prepare complete and accurate fiduciary and estate tax returns. This practical self-study webinar will also equip you with effective post-mortem tax planning techniques.
- Filing requirements for estates and trusts
- Simple and complex trusts
- Choice of annual accounting period
- Calculation of taxable income
- Capital gains
- Tax-effective distributions to beneficiaries
- Grantor trusts
- Income in respect of a decedent
- Estimated tax rules
- Gross estate calculation
- Unified credit after the Tax Cuts and Jobs Act of 2017
- Estate elections
- Valuation issues
- Discover the best techniques for preparing Forms 1041 and 706
- Learn methods for gathering information from trustees and fiduciaries
- Understand the impact of various election options
- Understand the interaction between the two returns
