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Form 1041: Tax Compliance, Review And Planning

  • 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: WEB00454
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

Are you ready for the upcoming fiduciary tax season? Form 1041 preparation is a critical skill for tax professionals, and this beginner-friendly course will give you the confidence to handle trusts and estates with ease. Whether you’re new to fiduciary taxation or need a refresher, this session provides a solid foundation in Form 1041 compliance, reporting, and planning strategies.

You’ll learn how trusts operate for tax and estate planning purposes, explore key rules like DNI and the 65-Day Rule, and uncover practical tips to avoid costly mistakes. Join us live and gain insights that will help you deliver exceptional value to your clients and stay ahead of complex fiduciary tax issues.

Learning Objectives:

  • Identify the types of trusts for income tax purposes
  • Identify the types of trusts for special tax or estate planning purposes
  • Identify the difference between taxable income and fiduciary accounting income
  • Apply the concept of Distributable Net Income (DNI) in trust taxation
  • Identify the impact of the Separate Share Rule for DNI
  • Implement tax planning strategies using IRC §663(b) (65-Day Rule)
  • Identify and report tax-related items for grantor trusts accurately

Session Highlights:

  • Types of Trusts for income tax purposes including – simple, complex, grantor, charitable and fiscal year elections
  • Taxable income and fiduciary accounting income
  • Distributable net income (DNI)
  • IRC §663(b) … 65-Day rule
  • The “Tier” Rules for DNI
  • The Separate Share Rule for DNI
  • Form 1041 Return – Deep Dive of an Estate Return
  • Passive activity rules for trusts and estates
  • Net Investment Income Tax (NIIT) and the tricks and traps
  • Understanding of income in respect of a decedent (IRD)
  • Line-by-line instruction (Income, Deductions, and Payments)
  • Recall QSST and EBST elections
  • Live Q&A session will be held after the event.

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
  • NASBA Sponsor: 146439
  • IRS Course ID: PJGWS
  • Attendance Requirement:  Yes
  • Session Duration: 2 Hours
  • Case Studies and Live Q&A session with speaker
    • PowerPoint presentation for reference
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.

Who Will Benefit:

  • CPA
  • Enrolled Agents (EAs)
  • Tax Professionals
  • Attorneys
  • Other Tax Preparers
  • Finance professionals
  • Financial planners
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.

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
  • NASBA Sponsor: 146439
  • IRS Course ID: PJGWS
  • Attendance Requirement:  Yes
  • Session Duration: 2 Hours
  • Case Studies and Live Q&A session with speaker
    • PowerPoint presentation for reference
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
2. When are the continuing education credits reported to the IRS, HRCI, NASBA and other regulatory bodies ?

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

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The credentials to log into your account is your EMAIL ADDRESS & PASSWORD used during account creation.

  • If you’ve forgotten your password, please go to the login page and click on the ‘Forgot Password.’ Then enter your registered email id to receive the password reset email. Click on the link given in the email to enter your new password.
  • If the face any challenge, please reach out to us via email support@pro2learn.com or contact our support team through live chat support. Our support line is 1-937-865-8027.Our support team is available Monday to Friday from 09:00 AM – 06:00 PM EST/EDT
4. How can I view /access the courses that I have registered for?

When you register for any of our webinars/product, you receive will the instruction 24 hours prior to the conference. Also, the instructions are avilable in your account under ‘My Webinars’ section.

5. How can I cancel my registration?

You can cancel your registration to by email at support@pro2learn.com.  If you cancel your registration for the paid webinar, the amount shall be credited back in your payment method within 7 business days.

6. How can I download the learning materials/Handouts available for the webinars/Seminar?

The conference materials are available 4 hours prior to the webinar. You can download it from the webinar page or by logging to your account.

7. What are the system requirements to attend a live webinar?

Our seamlessly integrated with ZOOM, WebX and, Goto for delivering continuing education webinars. The system requirements are :

  • An internet connection – broadband wired or wireless
  • Speakers and a microphone – built-in, USB plug-in, or wireless Bluetooth
8. What are CPE Package Courses?

Our package courses are the bundles of various continuing education courses which have been specially designed to meet your continuing education requirements for a particular Qualification.

9. What is web download and transcript?
  • The web download is the recording of the webinar. You will receive a link to download and save the webinar on your computer and watch it anytime and multiple times.
  • The transcript is the detailed written material presented during the webinar.
10. What is an On demand session?

On demand session is when we conduct the webinar as per your available dates after the live training. You will get access to the training for 24 hours.

11. How do I access a previously purchased webinar, self-study course, Web Download, or package?

To access a course that you have already purchased, all you must have to create/log in to your account. Click on the "Log In" button in the top right of the screen. Once you are logged in, you will have immediate access to all your purchased CPE courses, packages and other self-service or you can write on support@pro2learn.com.

12. I took a webinar, where is my certificate?

We will email your certificate within 3 working days of the end of the webinar, or you can login your account at www.pro2learn.com. If you don’t receive the email within 3 working days of the end of the webinar, check your spam/junk folder. If it’s not there, we recommend that you send us an email at support@pro2learn.com or connect over the online chatroom.

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