AP41
ADVANCED FORM 1041 PRACTICE WORKSHOP

Practitioners who understand the basics of Subchapter J and Form 1041 compliance soon find complex problems requiring sophisticated applications. This course builds upon our intermediate-level course titled "Fiduciary Income Tax Returns -- Form 1041 Workshop" to concentrate on the most difficult issues in practice. This is an essential offering for the practitioner with high-powered clients.

Major topics include:

• Case studies with completely filled-in forms tracking the flow of tax items and worksheets
• Grantor trusts: identification and compliance issues
• Special problems for a trust or estate holding a partnership interest or S corporation stock
• Depreciation problems and special issues of holding rental real estate
• Charitable deductions (Schedule A and Form 1041-A)
• Charitable remainder trusts (Form 5227) and the new ordering rules
• Alternative minimum tax for trusts and estates (Schedule G)
• Income in respect of a decedent, deductions in respect of a decedent, and the §691(c) deduction: calculation and allocation
• Pension plan distributions to trusts
• Funding pecuniary marital trusts
• Impact of the new tax rate on dividends
• Taking advantage of separate shares and the merged estate
• Understanding how to handle capital gains and losses under final regulation

Level of knowledge: Advanced