See also the Checkpoint Tax Return Compliance package, which includes the online version of this PPC deskbook.
Complete fiduciary tax return guidance
PPC’s 1041 Deskbook cuts through the complexity of preparing fiduciary income tax returns and provides practical step-by-step guidance on the basics of Form 1041 preparation as well as more complex issues such as determining fiduciary accounting income and distributable net income (DNI), computing the distribution deduction, allocating capital gains and depreciation, calculating the net investment income tax, reporting income in respect of a decedent, and filing Form 1041 in the estate or trust's final year.
Quick and accurate answers to all of your fidicuiary income tax return questions
Detailed examples, filled-in tax return forms, and planning tips show you how to report income, deductions, and distributions. Numerous practice aids are provided, including:
- Fiduciary tax organizers to help compile the necessary information for preparing Form 1041
- Election statements to help save time and effort when preparing 1041s
- Preparation checklists
- Roadmap with guidance for completing Form 1041 including references to Form 1041 lines and the key issues within the 1041 Deskbook for more detailed coverage
In addition to Form 1041 practical guidance, this Deskbook also has information on foreign trusts and how to know when a domestic trust has become a foreign trust, as well as guidance on the annual filing requirements for charitable trusts.
This Deskbook is also integrated with the UltraTax/1041 program.