Fiduciary Accounting and Tax Issues of Estates and Trusts

Fiduciary income tax is a complex blend of state accounting rates and the tax law of Subchapter J. Only by understanding this interaction can the practitioner acquire the skills and knowledge to provide income tax planning for an estate or trust and its beneficiaries, sure to be an important skill in practice in the new income tax environment.

Learning Objectives:

-Distinguish fiduciary accounting income from taxable income and distributable net income      

-Account for distributions for accounting and tax purposes      

-Identify how the fiduciary income tax return differs from individual income tax      

-Understand state law on principal and income