Form 1041, Line by Line - 4 CE
Form 1041 can be intimidating for tax professionals who do not prepare fiduciary income tax returns
every day. This practical program is designed for EAs, CPAs, and small firm tax professionals who need
a clear, basic, line by line approach to fiduciary income tax preparation.
The course walks through the structure of Form 1041 and the core concepts that drive fiduciary reporting,
including estates and trusts, distributable net income, income in respect of a decedent, beneficiary
reporting, deductions, filing deadlines, and common preparation issues. The emphasis is on helping
practitioners recognize what belongs on the return, where it belongs, and why it matters.
Learning Objectives:
Identify the basic filing requirements for estates and trusts using Form 1041.
Recognize the major parts of Form 1041 and the schedules commonly used in fiduciary income tax
preparation.
Identify common income, deduction, and distribution items reported on Form 1041.
Recognize the role of distributable net income in fiduciary income tax reporting.
Distinguish basic reporting issues for estates, simple trusts, complex trusts, and grantor trusts.
Identify common practitioner issues involving beneficiary reporting, filing deadlines, estimated taxes,
and supporting documentation.
Major Topics:
Practical line by line review of Form 1041
Basic estate and trust income tax filing requirements
Simple trusts, complex trusts, grantor trusts, and estates
Income, deductions, distributions, and beneficiary reporting
Distributable net income and income in respect of a decedent
Common schedules, attachments, filing deadlines, and estimated tax considerations
"Our best deal is always to become a monthly subscriber"
*Self-Study recording not available for NASBA CPE credit.
NASBA Field of Study: Taxes
IRS Program #: 7Q3WU-T-00915-26
CTEC Course #: 6248-CE-00262
Arthur Werner
,
JD, MS
Arthur Joseph Werner, JD, MS (Taxation), is the president and is a shareholder in the lecture firm of Werner-Rocca Seminars, Ltd. Mr. Werner’s lecture topic specialties include business, tax, financial and estate planning for high net worth individuals.
In addition, Mr. Werner is a former adjunct professor of taxation in the Master of Science in Taxation program at the Philadelphia University.
Mr. Werner received his B.S. in Accounting and his M.S. in Taxation from Widener University. He holds a J.D. in Law from the Delaware Law School.
Mr. Werner lectures extensively in the areas of Estate Planning, Financial Planning, and Estate and Gift Taxation to Certified Public Accountants and Financial Planners and has presented more than 3000 eight-hour seminars over the past twenty-five years as well as numerous webinars and video presentations. Mr. Werner has been rated as having the highest speaker knowledge in his home state of Pennsylvania by the Pennsylvania Institute of Certified Public Accountants, was awarded the AICPA Outstanding Discussion Leader Award in the State of Nevada, the Florida Institute of CPAs Outstanding Discussion Leader Award, and the South Carolina Association of CPAs Outstanding Discussion Leader Award.
Recommended Webinars
Trusts and Form 1041
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Unlock the essentials of tax and estate planning through the lens of fiduciary reporting. This comprehensive webinar will guide you through the design and function of trusts, the different types of trusts and how each impacts IRS Form 1041, and the tax implications that follow.
FREE Webinar: Types of Trusts and Corresponding Form 1041 Issues
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Trust returns sit in an awkward place in most practices. Not frequent enough to be routine, complex enough that the errors compound, and the client usually doesn't know what kind of trust they have. The first job is classification — grantor or non-grantor, simple or complex, and which subset of either — because everything downstream on the 1041 follows from that answer.
Form 1041, Line by Line - 4 CE
4 IRS CE/CTEC/NASBA CPE*
Form 1041 can be intimidating for tax professionals who do not prepare fiduciary income tax returns every day. This practical program is designed for EAs, CPAs, and small firm tax professionals who need a clear, basic, line by line approach to fiduciary income tax preparation.
