September 28, 2020 8:00am – 3:30pm Map & Directions 602-252-4144

Webcast: Fiduciary Income Tax Returns - Form 1041 Workshop with Filled-in Forms

Online registrations are currently closed, please call (602) 324-6847 for additional registration options


This course is designed for participants to understand the core concepts of trust and estate income tax preparation.

The course explains the common terminology and complicated income tax rules of estates and trusts, fiduciary accounting and an introduction to or refresher on preparing Form 1041. This practical, over 300-page manual is an excellent reference source for your practice, which begins with quite simple cases. Building upon that base throughout the manual, the course ends with two complicated preparation cases, one trust and one estate, each with filled-in forms.


ASCPA Live Online Webcast
Phoenix, AZ 85034-6617

Registration Time



Non-CPA Staff:
Non-CPA Staff (100% club):
Non-CPA Staff (sole proprietor):


  • Be aware of fiduciary accounting principles.
  • Calculate Distributable Net Income and the income distribution deduction.
  • Prepare Form 1041 and Schedule K-1.

Course Level



Surgent McCoy CPE, LLC More With This Vendor

Designed For

CPAs whose practice includes the preparation of fiduciary income tax returns.


Experience with the preparation of income tax returns.

Event Leaders

Emerson, Scott

Rating: 4.65

Scott Emerson, Enrolled Agent, is a new instructor for Surgent McCoy CPE, LLC. He was a revenue agent for Internal Revenue Service for 27-½ years. He has instructed both continuing professional education seminars and continuing legal education seminars for agents and attorneys with the IRS. He also has taught numerous IRS tax courses throughout his career. He incorporates real-life examples and historical perspective to interpret tax concepts.

Prior to his retirement, Scott was the Trust Technical Advisor with the IRS for the last nine years. He has extensive experience with the interrelationships between trusts and related returns. He has been recognized as a trust expert in several district courts for both domestic and foreign trusts. He has been confirmed as a trust expert in two U.S. appeals court’s decisions. His background also includes working with Department of Justice and U.S. Attorney Offices throughout the country.

Mr. Emerson is a graduate of Miami ( Ohio) University, with a degree in accountancy.

More With Emerson, Scott


  • Classifying receipts between "income" and "corpus" under the Uniform Principal and Income Act.
  • Calculation of DNI utilizing three different methods, a "forms" method (Schedule B), a "code" method, and a "shortcut" method, utilizing a worksheet of common income and expenses.
  • Proper W-2 preparation and procedures in the year of death.
  • Taxpayer passes before taking a required minimum distribution; what must be done?
  • Forgetful fiduciaries of simple trusts.
  • Fluctuating trusts - Simple one year, complex the next.
  • Dividing income in the year of death.
  • Overview of Subchapter J.
  • Form preparation issues - Filing requirements and line-by-line explanations of Form 1041.
  • Taxable income of estates and trusts and expense allocation issues.
  • Specific deductions and miscellaneous itemized deductions.
  • Income in respect of a decedent.
  • The income distribution deduction calculation.
  • Relation of principal and income law to DNI.
  • Understanding how to handle capital gains and losses.
  • Allocating tax items to beneficiaries: another K-1.
  • Comprehensive DNI case study, with principal (cost and FMV) and income reconciliation.
  • Comprehensive trust and estate case studies, with filled-in forms.

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