The Basics of Form 1041 Preparation

Description

? Are you preparing Form 1041 for the first time? Do you need a review of what the fiduciary return involves? Estates, simple trusts and complex trusts file Form 1041/541. Learn how they differ from 1040/540.

Highlights

• Obtaining an EIN
• Understanding Wills and Trusts
• Answering questions on Forms 1041 and 541
• Special income and Special deduction topics
• First and final returns
• Preparing Schedule K-1

Objectives

• Determine how the raw data is presented on Forms 1041 and 541
• Recognize Simple vs. Complex Trust requirements
• Identify issues affecting trustees

Designed For

CPAs who are new to working with trusts