Preparation of Form 1041: Part 2 Primer on Subchapter J

Preparation of Form 1041: Pt2 PSJ

Tax compliance issues for fiduciary entities are sometimes confusing to practitioners
due to the fact that many lack experience in this area. This course (part 2 of a 3-part program) provides the practitioner with a practical understanding of the issues involved in preparing the U.S. Income Tax Return for Estates and Trusts (Form1041).

OBJECTIVE:

▪ To provide an overview and guide to preparing the U.S. Income Tax Return for

Estates and Trusts (Form 1041).

HIGHLIGHTS:

▪ Overview of the issues

▪ Specific issues regarding an Estate

▪ Specific issues regarding a trust

▪ Understanding the basics of Subchapter J of the Internal Revenue Code

▪ Understanding of distributable net income (DNI)

▪ Understanding of income in respect of a decedent (IRD)