Income Taxation of Trusts & Estates - now only offered virtually

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  • Date/Time
    • Oct 29, 2021
    • Sign In: 7:45am (MT)
    • Program: 8:00am - 3:45pm (MT)
    • Add to Calendar
  • Location
    • ISCPA Enrichment Center
      1649 W Shoreline Drive #202
      Boise, ID 83702
    • Map
  • Credits
    • 8.00
  • Credit Type(s)
    • Taxation (8.00)
  • Prerequisites
    • General tax knowledge

  • Vendor
    • Kaplan Financial Education
  • Level
    • Networking
  • Fields of Study
    • Taxes
  • Message
    • 1/2 hour lunch included


We did not have enough in-person registrants to justify flying Ed to Boise - please join us virtually

Subchapter J of the Internal Revenue Code governs income taxation of estates and trusts— an area of tax law with numerous special rules, regulations, and professional customs. Form 1041 is unlike any other income tax return a tax professional encounters.

This program explains the unique tax rules and opportunities for the knowledgeable tax advisor to provide valuable tax services to fiduciaries—from special tax accounting to options for reporting trust income and expenses.

The program will contain state-specific information on the state’s principal and income tax (including unique features of that Act) that is used to compute “accounting income” necessary for preparation of the Form 1041.

Designed For

  • Accountants who advise fiduciaries about tax matters and/or prepare Forms 1041. May also be suitable for accountants in public practice or income tax functions of trust companies.


  • Advise fiduciaries regarding their tax duties for the income tax reporting
  • Describe the types of trusts and their income impact
  • Explain what is involved with trust accounting and dealing with the applicable state principal and income act
  • Explain the filing requirements for trusts and the preparation of Form 1041
  • Deal with unique issues for income and expenses affecting trusts and estate income taxes
  • Describe distributable net income (DNI) and how it impacts taxes


The income taxation of trusts and estates is an area that most CPAs had little to no formal training in prior to entering tax practice.  This course looks to give a practical and deep dive into income taxation of trusts and estates:

  • The Idaho Uniform Principal and Income Act
    • Computing accounting income for trusts and estates covered by the Idaho Uniform Principal and Income Act
    • Why the proper computation of accounting income under its provisions so often matters so much for income taxes
  • Applying the very taxpayer friendly post-TCJA final regulations on excess deductions on termination
  • Understanding the options CPAs have in using the rules determining the make-up of distributable net income to create the best results for beneficiaries on K-1s
  • What expenses remain deductible following the TCJA removal of the deduction for miscellaneous itemized for trusts and estates - applying the Knight regulations in a post-TCJA world
  • Determining which states may seek to impose a state level filing obligation and tax on a specific trust or estate


Advanced Prep

  • Download Manual
  • Review ISCPA Parking Map

Register Now

Please see the event description for details on how to register for this event.

If you have any questions, please email us at


Ed Zollars

Ed Zollars

Edward K. Zollars, CPA is in public practice in Phoenix, Arizona as a partner with the firm of Thomas & Zollars & Lynch, Ltd. He has been in practice for over twenty five years, specializing in tax issues for closely held businesses and individuals.

Ed has been professionally involved with both tax and technology issues, combing the two disciplines in starting the first tax podcast (Ed Zollars Tax Update, produced weekly dealing with current tax issues. He has been a member of AICPA Tax Division Committees dealing with tax and technology issues, and was the Tax Section’s representative on three occasions to the AICPA’s Top Ten Technologies project. Ed is also a member of the Phoenix Tax Workshop’s Advisory Committee, and currently serves on the Tax Legislation Liaison Committee for the Arizona Society of CPAs.Ed was selected as a Life Member by the Arizona Society of CPAs in May of 2010.

Ed is a co-author of the Arizona Income Tax Guide published by the Phoenix Tax Workshop, and has written articles published in Practical Tax Strategies and the Tax Adviser. He has been a frequent contributor to a number of professional tax discussion groups, and served as systems operator on the AICPA’s Accountants Forum in the mid 1990s.

He has spoken regularly on tax and technology topics since 1996, speaking before conferences sponsored by the AICPA and a number of state society of CPAs.

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