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Advanced Selected Issues for Trusts, Estates, and Their Beneficiaries (ITEB)

  • Format Live Seminar
  • Credits 8
  • Level Advanced
  • Field of Study Taxes (8)

To register for a live seminar, visit the sponsoring state society’s website.

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Changes in the tax rates have made knowledge of trusts and estates all the more important. This course examines more advanced tax issues that CPAs grapple with and explores how the new tax environment impacts planning for estates, trusts, and their beneficiaries. It also presents a discussion of the generation-skipping transfer tax implications of trusts and estates.

Major Topics

  • Depreciation and depletion deductions for estates and trusts, and state law nuances, fully explained and illustrated
  • The significant tax attributes of charitable remainder annuity trusts and charitable remainder unitrusts
  • The alternative minimum tax as it applies to estates and trusts
  • The significant tax attributes of charitable remainder annuity trusts and charitable remainder unitrusts
  • An analysis of the 3.8% net investment income tax on estates & trusts
  • The significant tax attributes that flow out to beneficiaries on termination of an estate and trust
  • The five-step approach to complete a fiduciary tax return for a complex trust and/or estate using flowcharts and examples
  • Generation-skipping transfers: the hidden tax on trust distributions
  • Special needs trust
  • The use of the charitable lead trust
  • Inclusion of current tax changes

Learning Objectives

  • Complete Form 1041 for trusts or estates with depreciation, alternative minimum tax, capital gains, and the special problems associated with the NII tax
  • Understand the special tax issues regarding charitable trusts
  • Be aware of the tax consequences and planning attending a termination
  • Identify the use and requirements for special needs trusts

Who should take this course:

All tax practitioners who need to understand the advanced-level issues of Form 1041 preparation

A basic course in Form 1041 preparation; experience in preparing Form 1041








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