Fiduciary Income Tax Returns - Form 1041 Workshop with Filled-in Forms (104116)
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When: 12/02/2016
8:30 AM until 4:30 PM
Where: Doubletree by Hilton Lafayette
1521 W. Pinhook Road
Lafayette, Louisiana 
United States
Presenter: Scott Emerson, EA

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Acronym 104116
CPE 8 hours
Vendor Surgent McCoy CPE
Level Intermediate
Prerequisite Experience with the preparation of income tax returns
Adv Prep None
Who should attend

CPAs whose practice includes the preparation of fiduciary income tax returns

Registration Early Bird
(through 11/15)
(after 11/15)
Member $289 $339
CPA Non-Member $389 $439

The Member rate applies to LCPA members, reciprocal state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.


As income tax rates rise on estates, trusts, and their beneficiaries, consideration of the income tax effects becomes more critical. The purpose of this course is to explain the complicated income tax rules of estates and trusts, fiduciary accounting, and an introduction or refresher of preparing Form 1041. This practical, over 300-page manual is an excellent reference source for your practice.


  • Be aware of fiduciary accounting principles
  • Calculate Distributable Net Income and the income distribution deduction
  • Prepare Form 1041 and Schedule K-1


  • Classifying receipts between “Income” and “Corpus” under the Uniform Principle and Income Act
  • Forgetful fiduciaries of Simple Trusts
  • Fluctuating trusts – Simple one year, complex the next
  • Calculation of DNI utilizing a “Forms” method (Schedule B), “Code” method, and “Shortcut” method utilizing a worksheet
  • Dividing income in the year of death
  • Overview of Subchapter J
  • Form preparation issues – Filing requirements and line-by-line explanations of Form 1041
  • Taxable income of estates and trusts and expense allocation issues
  • Specific deductions and miscellaneous itemized deductions
  • Income in respect of a decedent
  • The income distribution deduction calculation
  • Relation of principal and income law to DNI
  • Understanding how to handle capital gains and losses
  • Tax-planning concerns and special issues
  • Allocating tax items to beneficiaries: another K-1
  • Reporting in light of the net investment income tax
  • Comprehensive DNI calculation case study
  • Comprehensive trust case study
  • Overview of estate case study, filled-in forms