November 22, 2022


8 Total CPE Credits


Income Taxation of Trust and Estates--Planning and Compliance

Learning Objectives

Participants will be able to:
  • Advise fiduciaries regarding their tax duties for the income tax reporting
  • Describe the types of trusts and their income impact
  • Explain what is involved with trust accounting and dealing with the applicable state principal and income act
  • Explain the filing requirements for trusts and the preparation of Form 1041
  • Deal with unique issues for income and expenses affecting trusts and estate income taxes
  • Describe distributable net income (DNI) and how it impacts taxes

Major Topics

  • Estate of decedent as a taxpayer-filing requirements and tax planning
  • Types of trusts
  • Trust accounting and available tax elections
  • Filing requirements
  • Identifying deductible and nondeductible expenses for a trust or estate
  • Unique classification of some income and expenses
  • Computing accounting income under a state's principal and income act
  • Distributable net income-the concept and its application

CPE Credits Available

Total CPE

Things to Know About This Course


General tax knowledge

Advanced Preparation


Intended Audience

Accountants who advise fiduciaries about tax matters and/or prepare Forms 1041. May also be suitable for accountants in public practice or income tax functions of trust companies.


California Society of CPAs

This event has ended.