January 25, 2022 9:00am – 10:50am Map & Directions 602-252-4144

Webcast: Form 1041 Advanced Workshop Part 3 of 4

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

Description

One of the basic rules in fiduciary taxation is that the person or entity that receives the taxable income from the trust or estate is taxed on that income. The calculation of distributable net income (DNI) and the distribution deduction determine the amount of this taxable income. Therefore, when distributions are made that "carry out" DNI, the fiduciary entity operates as a conduit where the beneficiaries are taxed on the amounts reflected on the Schedule K-1 and the fiduciary entity receives a corresponding distribution deduction. We will explore the various distributions that are made to beneficiaries and their impact on the taxation of the entity.

Location

ASCPA Live Online Webcast
Phoenix, AZ 85034-6617

Registration Time

8:30am

Fees

Member:
$75
Non-CPA Staff:
$101
Non-CPA Staff (100% club):
$75
Non-CPA Staff (sole proprietor):
$75
Non-Member:
$101
Webcast
Taxation
2

Objectives

  • Identify Distributions Made to Beneficiaries
  • Determine Types of Distributions Made
  • Recognize the Impact of Distribution on DNI & the Distribution Deduction
  • Review Tax Impact of Special Distributions

Course Level

Intermediate

Vendor

CalCPA Education Foundation More With This Vendor

Designed For

Tax practitioners, accountants and financial professionals.

Prerequisites

Form 1041 Advanced Workshop Part 2.

Highlights

  • Calculating DNI & the Distribution Deduction
  • Does the Distribution "Carrying Out" DNI?
  • In-Kind Distributions & the Impact on the Distribution Deduction
  • Depreciation and the Distribution of In-Kind Property
  • Distributions that Result in "Kenan Gain"
  • Funding a Pecuniary Bequest with Depreciated Property
  • IRC Sec. 643(e)

Notes

Manager/Senior Manager; Director; Executive/VP; Sole Practitioner

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