Fiduciary Taxation of Trusts and Estates (2nd Edition)

This CCH Learning Center course, Fiduciary Taxation of Trusts and Estates (2nd Edition), provides a detailed explanation of how to determine the taxable income of trusts and estates, as well as of their beneficiaries.

The taxation of estates and trusts, often referred to as fiduciary taxation, is governed by the “modified conduit rule.” The “conduit rule” as applied to taxation is the idea that the entity is a mere conduit for the owners of the entity. The conduit rule is modified to the extent that the trust or estate retains some income. Application of the modified conduit rules, which can be complex, is looked at in the course.

Topics covered include:

• Terms and Definitions
• Types of Fiduciaries
• Income and Deductions In Respect of a Decedent
• Other Deductions Allowed to Trusts and Estates
• Determining Distributable Net Income (DNI)
• Taxation of Beneficiaries
• Taxation of Complex Trusts
• Trusts Disregarded For Income Tax Purposes

Field of Study: Taxes
Prerequisites: None
Level: Basic
CTEC course number: 1075-CE-7187
Course was last updated on: 1/28/2010

Credit Available / Units
CPE 3.00 CPE
QAS 3.00 CPE
CTEC Federal 3.00 CE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.