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Income Tax for Estates and Trusts-Form 1041 By Gear Up 2021 8hr CE Credit

October 27, 2021 @ 8:00 am - 5:00 pm

$230.00 – $280.00

This course will address the 1041 head-on. Discussions will include the purposes of the fiduciary income tax return-Form 1041. As well as specialized topics such as Tier 1 and 2 distributions, the separate share rule, state trusts, terminations and special needs trusts. This will be a power-packed eight hours. Coverage includes essential terminology of estates and trusts, the essence of a trust vs. a probate estate, simple vs. complex trusts as well as revocable vs. irrevocable trusts. Recent developments are covered including TCJA changes and IRS recent rulings regarding excess deductions on termination. What deductions are still allowed on the fiduciary income tax return after TCJA? The mysteries of “income in respect of a decedent” are plumbed. Particular attention is focused on the income distribution deduction as Form 1041 is the only place in the world of tax where this item is found. There will be a walk-through completion of Schedule B. Including all the above with an introduction to fiduciary accounting (principle vs. income), a brief history of the estate tax in the United States, and trouble-shooting fiduciary problems-what to do when things go wrong.

This Billings Course is Live but we are also offering it as a Webinar based training (The seminar will be live Streamed). Live and online seminar participants will receive CE credits provided the attendee meets the online attendance criteria. If you are interested in joining the Billings GearUp Webinar through simulcasting (online) please indicated that when signing up for the class either online or when using the paper registration.


October 27, 2021
8:00 am - 5:00 pm
$230.00 – $280.00
Event Category:


Montana Society of Public Accountants
Phone: 406-442-1700
Email: mspaemail@mspamt.org


Billings Hotel and Convention Center
1223 Mullowney Ln
Billings, MT 59101 United States
+ Google Map
(406) 248-7151


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