Income Taxation of Trusts and Estates

Author: Steven G. Siegel

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

Master the Complexities of Federal Income Taxation of Trusts and Estates
As more clients are using trusts for estate planning and wealth management purposes, and in reaction to planning issues prompted by the pandemic, it is essential that practitioners develop practical knowledge regarding income taxation of trusts and estates. This insightful CPE webinar provides a concise and useful review of key issues and considerations that arise in connection with the income taxation of trusts and estates.

Presented by noted tax and estate planner, author and educator, Steven G. Siegel, J.D., LL.M., this program offers an exploration of fiduciary income taxation including, the related compliance and planning issues and concerns. Siegel, an outstanding speaker and presenter, will provide real-world explanations and helpful tips on this important topic, so you can advise your clients with confidence.

Publication Date: May 2021

Designed For
This course is essential for CPAs, CFPs, enrolled agents, estate planners, tax attorneys, and other professionals who advise clients on tax, retirement and estate planning, and other wealth management matters.

Topics Covered

  • Basic Concepts and Issues
  • How estates and trusts are taxed
  • Tax years
  • Fundamental Concepts: Trust accounting income, distributable net income, taxable income
  • Income Reportable by Fiduciaries
  • Deductions Available to Fiduciaries
  • Specific Items of Deduction
  • Distributions; Special Issues and Situations
  • Trusts and Estates and the Alternative Minimum Tax

Learning Objectives

  • Recognize how estate and trust income is taxed
  • Identify how estate and trust income is defined, calculated, and reported
  • Describe key compliance and planning issues as well as concerns related to fiduciary income taxation
  • Identify when the decedent's taxable year ends
  • Recognize which type of trust has an annual exemption of $300
  • Describe trust accounting income
  • Recognize the annual net capital loss deduction limitation against ordinary income


Instructional Method

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites

Advance Preparation

Registration Options
Regular Fee $59.00

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