Guide to 1041 Preparation of Estates & Trusts

1:00 pm–4:45 pm ET

# of CPE Credits



The program will examine critical issues in preparing your clients’ Form 1041 U.S. Income Tax Return for Estates and Trusts. Learn where taxable income is determined differently from individuals; filing requirements and deadlines; reporting alternatives for grant or trusts; the calculation and allocation of DNI; and the impact of the new Section 199A 20% deduction on trusts, estates, and beneficiaries.


* Provide a working knowledge of tax rules and guidelines of estates and trust 2018 returns * Discuss planning and potential pitfalls


* Introduction * Semi-Conduit treatment * 2018 rates and brackets, including 3.8% NIIT * Filing requirements * Section 645 Election * Simple vs Complex Trusts * Estimated Taxes and the Section 643(g) Election * Grantor Trusts * Four Options to report activity * Fiduciary Accounting * Introduction to Fiduciary Accounting * Impact on Required Distributions and the Income Distribution Deduction * Distinction between “Income” and “Principal” * Uniform Principal and Income Act * Trustee’s discretionary power to adjust * Fallback allocation rules * Depreciation is optional * Taxable Income * Gross Income * Deductions * Depreciation (But no Section 179!) * Charitable Contributions * Notice 2018-61 * Treatment of miscellaneous itemized deductions * Treatment of administrative expenses * §199A Pass-Thru Income * § 461(l) limitation on losses * Distributions * Calculating DNI * Simple vs Complex Trusts * Allocation of DNI

Who Should Attend

Experienced CPAs who work with estates and trusts

Required Knowledge

A basic working knowledge of estates and trusts

Advanced Prep


Event Speaker(s)

Doug Van Der Aa ( Van Der Aa Tax Ed, LLC, Novi, MI ),

Additional Event Information

Technical Support
Contact NCACPA if you need assistance with your online program. For the quickest results, email the Online Learning Team at onlinelearning@ncacpa.org, and a team member will contact you shortly.

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*NCACPA office hours are 9:00 am–5:00 pm ET. Online Learning Team members will be available via phone or email 30 minutes prior to the start of a live online program.

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Share This Event

Event Vendor:Van Der Aa Tax Ed, LLC
Field of Study:Taxes
Level: Intermediate
Other:Enrolled Agent

Event Type:Webcast
Event Code:W0009419

Registration Fees

W0009419: Guide to 1041 Preparation of Estates and Trusts Early Bird Regular
NCACPA Member N/A $150.00
Non-Member N/A $200.00
CPE Sponsors LogoThe National Registry of CPE Sponsors is a program offered by the National Association of State Boards of Accountancy (NASBA) to recognize CPE program sponsors who provide continuing professional education (CPE) programs in accordance with nationally recognized standards. The North Carolina Association of Certified Public Accountants is registered with NASBA as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.

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