Description:

This book is for preparing 2023 taxes. Beneficiaries of an estate or trust receive Schedule K-1 (Form 1041), Beneficiary's Share of Income, Deductions, Credits, etc., which is used to report their share of the estate or trust’s activity on their individual tax return. This course examines what you need to know to report the information from a Schedule K-1 (Form 1041) on the beneficiary’s individual tax return.

Topics include:

• Identifying the character of pass-through income, deductions and credits from an estate or trust
• Describing the various items reported on Schedule K-1
• Summarizing how to report Schedule K-1 items on the beneficiary’s return
• Summarizing how to report items on the beneficiary’s return that are associated with estate or trust interest but not reported on Schedule K-1

Product Details:

Item Number: 23323

Level: Basic

Authors: NATP Staff

Published: 2023

Format: Print - 120 pages

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Corresponding CPE Courses:

Get the e-book FREE when you purchase the corresponding 2023 course.