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Description:

This book is for preparing 2022 taxes. When a taxpayer passes away, their assets become part of their estate. Those assets can generate income, which may require the taxpayer (decedent) to file Form 1041, U.S. Income Tax Return for Estates and Trusts (fiduciary income tax return). This course explains the basic rules governing the administration of a decedent’s estate and how to prepare Form 1041 for a decedent’s estate. Learn about the income and expenses, and the accounting concepts surrounding a fiduciary income tax return. The course contains examples throughout that culminate in a full return at the end of the course. 

Table of Contents

Topics include:

• Outlining the filing requirements for a decedent’s estate
• Identifying income and expenses reported on an estate Form 1041
• Calculating the income and expenses of an estate
• Identifying requirements to treat a revocable trust as part of an estate
• Reporting estate income, credits and deductions to beneficiaries
• Preparing Form 1041

Product Details:

Item Number: 22313

Level: Basic

Authors: NATP Staff

Published: 2022

Format: Print - 180 Pages

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