Compass Tax Educators

The trust instrument is a legal document that must be properly interpreted in order to prepare an accurate Form 1041 Fiduciary Income Tax Return. In this course, we examine the common provisions and people involved in an irrevocable trust and how they ultimately interact on the tax return.

Learning Objectives

• List reasons why Form 1041 should not be prepared without first reading the governing instrument.
• Define common trust terms and describe the purpose of basic provisions of a trust document.
• Identify tax consequences of certain trust provisions.
• Explain how state law interacts with the trust document.

Education Information

IRS Program Number: NMVBP-T-00221-22-S

Length: 100 minutes plus optional question-and-answer session (no CE)

Prerequisite: None

Advanced Preparation: None

Program Level: Basic

Delivery Method: QAS Self-Study (NASBA); On-Demand (IRS)

Field of Study: Taxes (NASBA); Federal Tax Topic/Federal Tax Related Matter (IRS)

Credit hours: 2 NASBA CPE / 2 IRS CE

Information can be found quickly by searching keywords in the text/PowerPoint using the built-in search feature.

Course expires one year after purchase.

Instructor: Frank R. Acuña, Esq. Click here to learn more about the instructor.

All continuing education credit is provided through Gregory & Associates, Inc. which is doing business as Compass Tax Educators. Click here for more information regarding our refund and education policies.