Forms 1041: Basic Trust and Estate Income Tax Preparation

4 Credits: Taxes


Webcasts are available for viewing Monday – Saturday, 8am – 8pm ET.
Without FlexCast, you must start with enough time to finish. (1 Hr/Credit)

 Secure Transaction

Forms 1041: Basic Trust and Estate Income Tax Preparation

Course Level
CPE Credits

4 Credits: Taxes

Course Description

Before attending this workshop, tax professionals may find themselves perplexed by the intricacies of trust and estate taxation, struggling to differentiate between 1040 and 1041 rules, and uncertain about the roles of fiduciaries and preparers. This lack of clarity can lead to less effective client service. However, after participating in Claudia Hill’s workshop, attendees will experience a significant shift in their understanding and skill set. They will transition from uncertainty to confidence, equipped with comprehensive knowledge about reading trust documents, understanding the nuances of beneficiary income inclusion, and handling various trust and estate taxation issues. The bridge to this transformation is the detailed, expert-led instruction offered in the workshop. Participants will not only learn about the technical aspects of trust taxation but also how to apply these concepts in practical scenarios, significantly enhancing their value to clients and elevating their professional expertise.

Show More
Show Less

Learning Objectives

Upon completing this course, participants will be able to understand:

  • Form 1041 Specifics
  • Observation on the Form 1041 Header
  • Role of Fiduciary
  • Role of the Preparer
  • Inclusion of Amounts in Beneficiaries Income
  • Reading the Document
  • The Importance of the Trust Instrument
  • Capital Gains Rates of Trusts
  • Fiduciary Accounting Income
  • Common Issues When Preparing Trust Returns
  • Distributions from an Estate or Trust Under the “65-Day Rule”
  • Election to Include Revocable Trust in Estate
  • When & Where to File
  • Grantor Trust Exercise
  • Practitioner’s Toolbox
Show More
Show Less

Course Specifics

Course ID
Revision Date
January 19, 2022


Advanced Preparation


Compliance Information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01977-22-O
IRS Federal Tax Law Credits: 4
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1714
CTEC Federal Tax Law Credits: 4

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. 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, by phone toll-free at (877) 850-2832, or on the Internet at

Meet The Experts

Claudia Hill Headshot

Claudia Hill, EA, MBA, is a nationally recognized tax professional and a frequent lecturer on taxation of individuals and representation before the IRS. She’s the editor in chief of CCH’s Journal of Tax Practice & Procedure, coauthor of CCH Expert Treatise Library: Tax Practice and Procedure, and a frequent presenter for both live and audio CPE seminars. Named a Top Ten Nominee by Tax Analysts as 2011 Person of the Year, she coordinates a “dream team of tax controversy advisors” for the IRS Watch blog on Claudia served on the 1987 Commissioner’s Advisory Group to the National Office of the IRS. She’s the owner and principal of …

Claudia Hill, EA, MBA Read More »