February 16, 2023


2 Total CPE Credits


Surgent's Successfully Completing an Income Tax Return for a Trust or Estate -- Form 1041

Learning Objectives

  • Understand how to file a basic income tax return for an estate or trust – form 1041

Major Topics

  • Passive activity rules for trusts including the NIIT
  • The different types of trusts for income tax purposes (e.g. simple, complex, grantor, charitable)
  • The critical categorization of income (taxable income vs. fiduciary accounting income)
  • Distributable net income (DNI) and how it works
  • The “Tier” Rules
  • The Separate Share Rule
  • IRC 663(b) “65-Day” Rule
  • IRC §691(c) Deduction
  • QSST and EBST elections
  • How to treat excess deductions on termination
  • Grantor trust rules and how they impact planning and return preparation
  • The income tax side of Domestic Asset Protection Trusts

CPE Credits Available

Total CPE

Things to Know About This Course

Course Level

  • Advanced


Intermediate understanding of federal income tax

Advanced Preparation


Intended Audience

Any tax practitioner who wishes to understand how to assist clients with filing a federal gift tax return


Surgent McCoy CPE

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