The Unique Tax Accounting Issues in Estates and Trusts (LITX12/25)
Event Description
Obtain a better understanding of trust accounting principles; how to reflect them on a trust tax return, and properly compute distribution deductions.
Enrolled Agent Approved
Designed For
CPAs and tax staff who are likely to prepare trust returns on Form 1041
Objectives
- Understand accounting for principal and income
- Understand distribution deduction
Major Subjects
- What is principal
- What is income
- Understanding the trust indenture
- Computing and reporting distribution deductions