Course Information

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1041 Preparation and Planning 5: Special Situations (2011 Edition)
Author: Sidney Kess and Barbara Weltman

Description:
1041 Preparation and Planning 5: Special Situations (2011 Edition) details the rules for completing Schedule J of Form 1041. Schedule J is used only for complex trusts that distribute accumulated income and that are still subject to the throwback rules. The course also reviews post-mortem planning for decedents' estates, and planning for the termination of trusts. Examples illustrate course concepts. Practice pointers and pitfalls are provided. A case study and filled-in form conclude the course.

Topics covered in this course include and overview of Schedule J, accumulation distribution, taxes imposed on undistributed net income, allocation to beneficiary, post-mortem planning for estates, and planning for the use of revocable trusts and for the termination of trusts.

Upon completing this course, you should be able to:

  • Explain the requirements for completing a Schedule J
  • Complete Schedule J
  • Execute post-mortem planning for decedents’ estates
  • Plan for the termination of trusts
Course Details:
Price:  $34.00
Field of Study:  Taxes
Prerequisites:  1041 Preparation and Planning 4: Schedule K-1 (2010 Edition)
Level:  Intermediate
Advanced Preparation:  None
Course was last updated on:  11/02/10
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Library:
Learning Center Core

Technical Requirements:
To view and print downloadable content files available in this program, you will need Adobe Acrobat Reader. You can download the free Reader plugin at Adobe's website by clicking on the icon below, then following the instructions for installation on your computer.
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Credit Available For: Units
CPE 2.0 CPE
QAS 2.0 CPE
CFP® (Accepted by the CFP Board) 1.0 CPE
Enrolled Agent (Accepted by the IRS) 2.0 CPE
CTEC Federal 2.0 CE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

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