Taxation of Trusts and Estates CPA Exam Form 1041

[@suzyabca7946]

I’m not a technical person but you make everything so easy to understand. Thank you!

[@AccountingLectures]

I provide accounting lectures and resources to help accounting students. Material is organized by course and chapter. farhatlectures.com/accounting-courses

[@Rain-lb1ts]

Found out I will be working 1041returns this year. Never did one before so I figured i would see if good ole Professor Farhat had one :-) Thank you for putting out this info Mr. Farhart. Hope you are doing well sir :-)

[@theopholistpunuval3594]

I'm already a CPA and these make for great review!

[@AccountingLectures]

Glad you like them!

[@theopholistpunuval3594]

@@AccountingLectures Wish I had these sooner. You make it so easy to learn!

[@asatenzo]

Thank you Mr. Farhat. I'm just trying to figure out the 1041 for my mom's estate, and this video helped a lot.

[@AccountingLectures]

Thank you, Tami, and please visit the website for more farhatlectures.com/

[@vanessaruiz4697]

Thank you for helping us! Your videos have been a blessing. I've seen you have improved the quality in your videos which is awesome but if I may suggest that you zoom in to areas that appear small. For example, when you are referring to a part of a process or flow chart and there is writing around it. I find myself frequently putting my phone closer to my face to be able to see. Just a suggestion :)

[@AccountingLectures]

Noted. You are welcome. Check my website for more: ✔farhatlectures.com/ ✔Instagram: @farhatlectures ✔ Linkedin: www.linkedin.com/in/professorfarhat/ ✔Facebook:@accountinglectures ✔Twitter: @farhatlectures 🎤Email: [e-mail]

[@normacocks8410]

Thank you 👍

[@AccountingLectures]

You are welcome. Check my website for more: ✔farhatlectures.com/ ✔Instagram: @farhatlectures ✔ Linkedin: www.linkedin.com/in/professorfarhat/ ✔Facebook:@accountinglectures ✔Twitter: @farhatlectures 🎤Email: [e-mail]

[@LA2JERSEY]

Thank you so much. How does the number on 1041 flow to 1040?

[@araza9529]

Hello Professor, Can I please get the link of another video as u have mention that u r gonna explain some concepts in next video.

[@lisadashiell1925]

Hello Professor, Can I please get the link of the video your mentioned that you would provide further examples to explain some concepts presented in this video. I am unable to locate. Do you have a video on Taxation of Beneficiaries filling the K-1 beneficiary form out as well. Your video has been very helpful in understanding how the trust tax return works.

[@AccountingLectures]

Thank you Lisa and please visit the website for more farhatlectures.com/

[@thrillbilly41]

For an intestate estate My dad passed August 2021. I didn't apply for an EIN and bank account until March 2022. Has that created a problem? Whatever the attorney did, it made filing for 1041 deadline as April of 2023 now? Nothing was sold from the estate in 2021 and nothing distributed. So did I need to file a 1041 for 2021 for zero dollars? And then do I need to (or should I have) file another 1041 for the this tax year to show dad's house selling while in probate to pay the debts?

[@brendayjuansantos]

What if in the income section there were no tax forms received by estate? The only income is what was alrteady in the decedents bank account which was disbursed to the children.

[@sm1ofakind]

The balance in the decedent's account is an asset and not considered income to the heirs for federal tax purposes unless is was in the millions. The only thing taxable to the estate or the heirs would be the interest earned on the bank account's balance, if any.

[@june.5082]

Does anyone know if the lawyer fee of the probate services is deductible? Where to put it?