Form 1041 Advanced Workshop

Fiduciary accounting and taxation have been in transition for several years. Changes in the income tax rate structure have pulled tax planning forward as a prime objective for estate planners. We will explore many of these issues in this workshop series.

InstructorJacqueline A. Patterson


Form 1041 Advanced Workshop Part 1 of 4

Issues and updates for fiduciary entities | Fiduciary accounting and taxation | Tax cost of accumulating taxable income in a trust | Calculation for the multiple authorities | Modeling to minimize the tax cost to the trust while maintaining the grantor’s intent | IRC Secs. 67(e) & 67(g)

  • Time: 8—9:50 a.m.
  • Price: Member $79 | Nonmember $109
  • Credits: CPE 2, CFP 2, IRS-TX 2, MCLE 1.5, MCLE LS-TX 1.5
  • Dates: 2021 | June 16 | Dec. 7 | 2022 | Jan. 24

Form 1041 Advanced Workshop Part 2 of 4

Fiduciary accounting elections | Unitrusts and trustee’s power to adjust | Rules for distributions from entities | When capital gains are included in distributable net income (DNI) | Basic fiduciary accounting problem | Reserve for depreciation | Accounting for business assets

  • Time: 10—11:50 a.m.
  • Price: Member $79 | Nonmember $109
  • Credits: CPE 2, CFP 2, IRS-TX 2, MCLE 1.5, MCLE LS-TX 1.5
  • Dates: 2021 | June 16 | Dec. 7 | 2022 | Jan. 24

Form 1041 Advanced Workshop Part 3 of 4

Distributions made to beneficiaries | Impact of distribution on DNI and the distribution deduction | Tax impact of special distributions | Calculating DNI and the distribution deduction | Distributions that result in “Kenan Gain” | Funding a pecuniary bequest with depreciated property

  • Time: 8—9:50 a.m.
  • Price: Member $79 | Nonmember $109
  • Credits: CPE 2, CFP 2, IRS-TX 2, MCLE 1.5, MCLE LS-TX 1.5
  • Dates: 2021 | June 30 | Dec. 9 | 2022 | Jan. 24

Form 1041 Advanced Workshop Part 4 of 4

The depth and scope of trust administration | Importance of an approach to the many duties and responsibilities | Administrative trust | IRC Sec. 645 Election
IRD (Income in Respect of a Decedent) | When an administrative trust is necessary

  • Time: 10—11:50 a.m.
  • Price: Member $79 | Nonmember $109
  • Credits: CPE 2, CFP 2, IRS-TX 2, MCLE 1.5, MCLE LS-TX 1.5
  • Dates: 2021 | June 30 | Dec. 9 | 2022 | Jan. 24