Form 1041: Preparation, Entities, And Compliance

  • 01:00 PM ET | 12:00 PM CT | 10:00 AM PT | Duration: 120 Minutes
  • Credit: IRS Credits: 2.0 | NASBA Credits: 2.0| Product Code: WEB00453
Contact Person Klaralee R. Charlton
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Webinar Instruction will be emailed on your registered email address 3 days prior to webinar | Web Download / e-Transcript will be shared in 7 working days from the date of webinar

Tax compliance for fiduciary entities can be challenging for practitioners, especially those with limited experience in estates and trusts. This course provides a practical line-by-line review of Form 1041, focusing on the rules that govern fiduciary reporting. Attendees will gain clarity on the structure of estates and trusts. Subchapter J of the Internal Revenue Code, and the application of these provisions in fiduciary tax compliance.

The program emphasizes critical areas such as distributable net income (DNI), income in respect of a decedent (IRD), and the classification of trust entities. Case examples and updated IRS thresholds for 2024 returns filed in 2025 ensure practitioners are equipped with the most current information.

Learning Objectives:

At the end of this course participants will be able to:

  • Current rates and brackets
  • Calculating a trust's AGI
  • Apply the rules of Subchapter J of the Internal Revenue Code.
  • Identify and classify trust entities.
  • Calculate distributable net income (DNI).
  • Determine income in respect of a decedent (IRD)
  • Interpret fiduciary documents for reporting purposes.
  • Apply updated 2024 capital gains and qualified dividend thresholds (0%, 15%, 20%).
  • Ensure compliance with 2025 filing deadlines and estimated tax thresholds.

Major Topics:

  • In-depth guidance on preparation of Form 1041
  • Distributable net income (DNI)
  • Income in respect of a decedent (IRD)
  • Classification of trust entities
  • Subchapter J of the Internal Revenue Code
  • Fiduciary tax compliance requirements
  • Capital gains/dividend thresholds for 2024 returns (filed 2025)
  • Estimated tax thresholds for 2025 (0% up to $3,250; 15% up to $15,900: 20% above $15,900)
  • Filing deadlines and extensions for estates and trusts

Credits and Other information:

  • Recommended CPE credit – 2.0
  • Recommended field of study – Taxes
  • Session Prerequisites and preparation: None
  • Session learning level: Basic
  • Location: Virtual/Online
  • Delivery method: Group Internet Based
  • IRS Course ID: PJGWS
  • Attendance Requirement:  Yes
  • Session Duration: 2 Hours
  • Case Studies and Live Q&A session with speaker
  • PowerPoint presentation for reference

Who Will Benefit:

  • CPA
  • Enrolled Agents (EAs)
  • Tax Professionals
  • Attorneys
  • Other Tax Preparers
  • Finance professionals
  • Financial planners
Coder Archives is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
 
Speaker Profile:
Klaralee Charlton is a Shareholder with Katz, Look & Onorato, P.C. where she practices fiduciary tax, estate administration, and business transactional law. As part of her practice, Ms. Charlton guides clients through the process of administering a loved one’s estate including the collection, valuation, management and transfer of assets including financial accounts, real estate, and business interests with a focus on minimizing estate and income tax liability. She also works closely with trustees of ongoing trusts to ensure compliance and prepares clients’ fiduciary income tax returns annually.
Klaralee has written and lectured on topics including estate and gift tax, fiduciary income tax reporting and U.S. regulations governing the valuation of small family businesses. She previously served as Chair of the Colorado Bar Association, Tax Section and President of the Greater Denver Tax Counsel Association. She earned her J.D. from the University of Utah, S.J. Quinney College of Law, her LL.M. in Tax Law from the University of Denver, and her B.A. in political science from Bryn Mawr College. She is admitted to practice in both Colorado and Montana.
IRS Credits
NASBA Credits
1. Are your providing Online Continuing Education Credits?

We are approved to provide CPE/CE credits to Tax Professionals

  • IRS
  • NASBA
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We reports the educational credits to the respective licensing/regulatory bodies in 5 business days.

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