January 9, 2023 11:00am – 12:50pm Map & Directions 602-252-4144

Webcast: Form 1041 Advanced Workshop-Part 2 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 allocation of the tax burden between the fiduciary entity and the beneficiary. 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. The fiduciary entity receives a corresponding distribution deduction. When taxable income is accumulated by the entity, the fiduciary pays the tax. We will explore the various distributions made to beneficiaries and their impact on the entity's taxation. Form 1041 Advanced Workshop Part 1 | Form 1041 Advanced Workshop Part 2 | Form 1041 Advanced Workshop Part 3 | Form 1041 Advanced Workshop Part 4

Location

ASCPA Live Online Webcast
Phoenix, AZ 85034-6617

Registration Time

10:30am

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

  • Calculating DNI & the Distribution Deduction
  • Determining Types of Distributions and Whether a Distribution "Carries 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)
  • The Separate Share Rule
  • Understanding IRC Sec. 199A as it Pertains to Fiduciary Entities

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 1

Highlights

  • Calculating DNI & the Distribution Deduction
  • Determining Types of Distributions and Whether a Distribution "Carries 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)
  • The Separate Share Rule
  • Understanding IRC Sec. 199A as it Pertains to Fiduciary Entities

Notes

None

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