Form 1041: Tax Compliance, Review And Planning

  • 01:00 PM ET | 12:00 PM CT | 10:00 AM PT | Duration: 120 Minutes
  • Credit: IRS Credits: 2.0 | NASBA Credits: 2.0| Product Code: WEB00454
Contact Person Klaralee R. Charlton
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Webinar Instruction will be emailed on your registered email address 3 days prior to webinar | Web Download / e-Transcript will be shared in 7 working days from the date of webinar

Are you ready for the upcoming fiduciary tax season? Form 1041 preparation is a critical skill for tax professionals, and this beginner-friendly course will give you the confidence to handle trusts and estates with ease. Whether you’re new to fiduciary taxation or need a refresher, this session provides a solid foundation in Form 1041 compliance, reporting, and planning strategies.

You’ll learn how trusts operate for tax and estate planning purposes, explore key rules like DNI and the 65-Day Rule, and uncover practical tips to avoid costly mistakes. Join us live and gain insights that will help you deliver exceptional value to your clients and stay ahead of complex fiduciary tax issues.

Learning Objectives:

  • Identify the types of trusts for income tax purposes
  • Identify the types of trusts for special tax or estate planning purposes
  • Identify the difference between taxable income and fiduciary accounting income
  • Apply the concept of Distributable Net Income (DNI) in trust taxation
  • Identify the impact of the Separate Share Rule for DNI
  • Implement tax planning strategies using IRC §663(b) (65-Day Rule)
  • Identify and report tax-related items for grantor trusts accurately

Session Highlights:

  • Types of Trusts for income tax purposes including – simple, complex, grantor, charitable and fiscal year elections
  • Taxable income and fiduciary accounting income
  • Distributable net income (DNI)
  • IRC §663(b) … 65-Day rule
  • The “Tier” Rules for DNI
  • The Separate Share Rule for DNI
  • Form 1041 Return – Deep Dive of an Estate Return
  • Passive activity rules for trusts and estates
  • Net Investment Income Tax (NIIT) and the tricks and traps
  • Understanding of income in respect of a decedent (IRD)
  • Line-by-line instruction (Income, Deductions, and Payments)
  • Recall QSST and EBST elections
  • Live Q&A session will be held after the event.
Coder Archives is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Who Will Benefit:

  • CPA
  • Enrolled Agents (EAs)
  • Tax Professionals
  • Attorneys
  • Other Tax Preparers
  • Finance professionals
  • Financial planners
Speaker Profile:
Klaralee Charlton is a Shareholder with Katz, Look & Onorato, P.C. where she practices fiduciary tax, estate administration, and business transactional law. As part of her practice, Ms. Charlton guides clients through the process of administering a loved one’s estate including the collection, valuation, management and transfer of assets including financial accounts, real estate, and business interests with a focus on minimizing estate and income tax liability. She also works closely with trustees of ongoing trusts to ensure compliance and prepares clients’ fiduciary income tax returns annually.
Klaralee has written and lectured on topics including estate and gift tax, fiduciary income tax reporting and U.S. regulations governing the valuation of small family businesses. She previously served as Chair of the Colorado Bar Association, Tax Section and President of the Greater Denver Tax Counsel Association. She earned her J.D. from the University of Utah, S.J. Quinney College of Law, her LL.M. in Tax Law from the University of Denver, and her B.A. in political science from Bryn Mawr College. She is admitted to practice in both Colorado and Montana.
IRS Credits
NASBA Credits
1. Are your providing Online Continuing Education Credits?

We are approved to provide CPE/CE credits to Tax Professionals

  • IRS
  • NASBA
2. When are the continuing education credits reported to the IRS, HRCI, NASBA and other regulatory bodies ?

We reports the educational credits to the respective licensing/regulatory bodies in 5 business days.

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  • If the face any challenge, please reach out to us via email support@pro2learn.com or contact our support team through live chat support. Our support line is 1-937-865-8027.Our support team is available Monday to Friday from 09:00 AM – 06:00 PM EST/EDT
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When you register for any of our webinars/product, you receive will the instruction 24 hours prior to the conference. Also, the instructions are avilable in your account under ‘My Webinars’ section.

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The conference materials are available 4 hours prior to the webinar. You can download it from the webinar page or by logging to your account.

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Our seamlessly integrated with ZOOM, WebX and, Goto for delivering continuing education webinars. The system requirements are :

  • An internet connection – broadband wired or wireless
  • Speakers and a microphone – built-in, USB plug-in, or wireless Bluetooth
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Our package courses are the bundles of various continuing education courses which have been specially designed to meet your continuing education requirements for a particular Qualification.

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  • The transcript is the detailed written material presented during the webinar.
10. What is an On demand session?

On demand session is when we conduct the webinar as per your available dates after the live training. You will get access to the training for 24 hours.

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