Description
Dive into this comprehensive guide to accurately completing IRS Form 1041A.This will provide you with a comprehensive guide to accurately completing IRS Form 1041A. You will learn how to identify trusts that are required to file IRS Form 1041A and how to complete IRS Form 1041A. The material will also cover the charitable deduction for trusts under IRC 642(c) for charitable contributions and gross income permanently set aside for charitable purposes.
Date: 2020-01-24 Start Time: End Time:
Learning Objectives
How to Fill out IRS Form 1041-A
• Conceptual Overview of the Taxation of Estates and Trusts
• IRS Form 1041
• Income and Deductions Generally
When to File Form 1041-A
• Who Must File?
• Exceptions
• Due Date and Extensions
Overview of 642(c)
• 642(c)(1) • Charitable Contributions Paid in Subsequent Tax Year
• 642(c)(2) • Amounts Permanently Set Aside for Charitable Purposes
Conceptual Overview of Form 1041-A
• Income and Deductions
• Distributions of Income Set Aside for Charitable Purposes
• Distributions of Principal for Charitable Purposes
• Balance Sheets
Public Disclosures
Penalties
Amending Form 1041-A
T.J. Aldous-Fennemore Craig, P.C., Steven Hilton – Fennemore Craig, P.C.
