S23-1041 Elections: The Choices You Make Can Help or Hurt Your Client

Friday, June 28 | 8:00 am - 11:50 am
Track: Trusts
CE:
     4 hours Federal Tax Law (EA, CRTP, OTRP)
     4 hours Taxes/Tax Planning (CPA, CFP)
     3.25 hours Taxation Law (Attorney – CA Bar MCLE)
     4 hours (CSEA/NAEA)
Speaker: Claudia Hill, EA, MBA

Description: Strategic use of elections can benefit the taxpayer as well as the tax preparer. This session looks at the six most commonly encountered elections that are seen on various types of Form 1041 trust or estate tax returns, illustrating why, how and when they would be appropriately used.

Learning Objectives
1. Understand situations when elections can be made that affect the treatment of trust or estate items                                   
2. Understand timing issues related to trust or estate elections                                       
3. Learn about resources helpful when dealing with estate or trust preparation issues

Learning LevelIntermediate

Prerequisites: Basic understanding of Form 1041

Advanced Preparations: None