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Taxes in Probate: Form 1041 and Distribution Deductions

National Business Institute
Training overview
Professional Course
1 hour 28 minutes
From 229 USD

Start dates
229 USD
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Course description

Taxes in Probate: Form 1041 and Distribution Deductions

Build Foundational Knowledge of Estate Administration Tax Returns Whether you're new to trusts and estates or have practiced for years, there's always something new to learn about one of its key documents: the estate income tax return. This course will take you through the form and its schedules, discuss when and how it is used, and give practical guidance on tax-efficient estate administration tactics. Register today! Walk through the initial steps of getting authorized, clarify the deadlines, and learn how to request extensions. Explore the form line by line with practical tips from seasoned faculty. Learn how estate losses and expenses are recorded and what's allowable. Make certain your use of e-filing and electronic signatures is impeccable. Use the return with the final accounting to prevent disputes and re-openings.

Training content

  • When 1041 Must be Filed: Income Generating Items, Income Threshold
  • First Steps: Obtaining a Tax ID, Form 56, Power of Attorney, Tax Deadlines and Extension Requests
  • Managing the Estate and its Effects on Form 1041: Deductions, Expenses, etc.
  • Completing Form 1041 and its Schedules (Including Form(s) 1099)
  • Estate Accounting and its Effect on Tax Returns
  • Reporting Distributions to Beneficiaries: Schedule K-1
  • E-Filing and Electronic Signatures

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About NBI

National Business Institute

At NBI, we believe that enhancing professional knowledge through continuing education empowers our customers to better serve their community. With over 35 years of experience, we understand the needs of legal professionals seeking continuing education and we are dedicated to...

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National Business Institute

1218 McCann Dr
54720 Altoona WI

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