Form 1041- A Roadmap To Preparing The Fiduciary Return


August 30, 2022


Steven G. Siegel

  1:00 PM ET | 12:00 PM CT | 10:00 AM PT | 240 Minutes

* Not able to attend the live session? We can arrange an on-demand session for You. Please call 1-‪814-892-0304


Tax compliance issues for fiduciary entities are sometimes confusing to practitioners due to the fact that many lack experience in this area. The preparation of The US Income Tax Return for Estates & Trusts (Form 1041) is an art that requires juggling oft-competing obligations between the tax authorities, personal representatives, and beneficiaries. This course will highlight unique issues related to Form 1041 and useful techniques practitioners can use to reduce overall tax liability.

The practitioner will have a better understanding of entities and the basics of Subchapter J of the Internal Revenue Code.  Understanding these areas will allow the practitioner to start their understanding of tax compliance in preparing the U.S. Income Tax Return for Estates and Trusts (Form 1041).

Participants will understand: 

  • Prepare the U.S. Income Tax Return for Estates and Trusts (Form 1041)
  • Understand the fiduciary’s tax filing requirements.
  • Identify reportable items of income and deductible expenses.
  • Schedule K-1 for beneficiaries
  • Understand the timeline and tax filing requirements faced by a decedent’s personal representative.
  • Distinguish between accounting, distributable and taxable income.
  • Recognize the overlap & interplay amongst differing tax regimes.
  • Understanding key elections to be considered when preparing Form 1041.
  • Glean information from and work with related individual and estate tax forms.
  • Deciding if or when capital gains may or may not be distributed to beneficiaries – and how to report that
  • Qualified Business Income Deduction
  • Recall QSST and EBST elections

Credits and Other information:

    • Recommended CPE credit – 4
    • Recommended field of study – Taxes
      • Session Prerequisites and preparation: None
      • Session learning level: Basic
      • Location: Virtual/Online
      • Delivery method: Group Internet Based
      • NASBA Sponsor: 138804
      • IRS Course ID: DFFSC
      • Attendance Requirement:  Yes
      • Session Duration: 4 Hours
      • Case Studies and Live Q&A session with speaker
      • PowerPoint presentation for reference

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      Pioneer Educator is registered with the National Association of State Boards of Accountancy (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: