Course Information

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1041 Preparation and Planning 3: Tax Computation and Completing the Return (2011 Edition)
Author: Sidney Kess and Barbara Weltman

Description:
1041 Preparation and Planning 3: Tax Computation and Completing the Return (2011 Edition) details the rules for completing Form 1041. Alerts of new changes for the year are provided. Examples illustrate how related code rules apply. Sample forms and schedules are included, as well as practice pointers, pitfalls and recent developments.

Topics covered in this course include: taxable income of the fiduciary; tax on lump-sum distributions; figuring the AMT; tax credits; recapture tax; household employment tax; penalty for underpayment of estimated tax; tax due or overpayment; and filing information.

Upon completing this course, you will be able to:

  • Figure the tax payable by the trust or estate and complete Schedule G
  • Identify the tax credits that can be claimed on a fiduciary income tax return
  • Compute estimated tax where applicable
  • Identify who must sign the 1041 return
  • Determine where to file the 1041 return
Course Details:
Price:  $34.00
Field of Study:  Taxes
Prerequisites:  1041 Preparation and Planning 2: Income and Deductions (2011 Edition)
Level:  Basic
Advanced Preparation:  None
CTEC course number:  1075-CE-9731
Course was last updated on:  09/29/10
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Library:
Learning Center Core

Technical Requirements:
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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.

CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

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