CCH Testing Center

Courseware:

Test Description:

CCH's new 1041 Preparation and Planning Guide presents a fundamental review of the rules for federal income taxation of trust and estates and clear guidance on properly preparing the Form 1041. Written by noted tax experts, commentators and educators, Sidney Kess and Barbara Weltman, the Guide's approach is concise and practical. Kess and Weltman provide precise explanation on all the essentials of fiduciary tax return preparation. Legislative and regulatory changes affecting returns, recent IRS rulings and significant court decisions are all reflected and highlighted in place throughout the text in a logical and understandable manner. The second module in this course reviews reporting items on Form 1041.

Chapter 5 (Income) was prepared to enable participants to enter the income items on Form 1041.

Chapter 6 (Deductions) will enable participants to enter deductions on Form 1041.

Chapter 7 (Tax and Payments) details how to figure tax liability on the fiduciary income tax return.

Chapter 8 (Completing the Return) was prepared to enable participants to complete the fiduciary income tax return.

Chapter 9 (Schedule K-1) will help the participant to understand the purpose of Schedule K-1 and distinguish between beneficiary reporting for simple trusts and reporting for decedents’ estates and complex trusts.