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Finance
The Preparation of Forms 706 and 1041: Understanding the Law

Course Description:

Preparing returns for estates can be difficult, especially if you do not prepare these kinds of returns often, but these services are vital for our clients. This course provides the practitioner with a practical understanding of Federal estate law. We will examine Forms 1041 and 706 and will address how and when to prepare each form. We will also discuss planning suggestions to minimize taxation where possible for clients.

This course covers the following Major Topics:

Form 1041 (Estate & Trust Income Tax)
Filing requirements & deadlines
Differences between simple and complex trusts
Distributable Net Income (DNI) calculations
Deductions, exemptions, and credits
K-1 preparation for beneficiaries

Form 706 (Federal Estate Tax Return)
When filing is required (estates exceeding the exemption)
Valuation of assets (real estate, businesses, investments)
Portability election (DSUE) for surviving spouses
Deductions (debts, expenses, charitable bequests)
State estate tax considerations

(Learning Objectives:

Understand asset valuation, estate deductions, and correctly ascertain the impact on tax liability.

Explain tactics to assist clients in estate planning to minimize future tax liability.

Understand and obey compliance requirements for forms 1041 and 706.

Identify key tax-saving strategies for estates, including deductions, exemptions, and income shifting.

     

    Credits and Other information:

    Recommended CPE credit – 2.0

    Recommended field of study – Taxes

    Session Prerequisites and preparation: None

    Session learning level: Basic

    Location: Virtual/Online

    Delivery method: Group Internet Based

    Attendance Requirement:  Yes

    Session Duration: 120 Min


      Who Will Benefit:

      CPA

      Enrolled Agents (EAs)

      Tax Professionals

      Attorneys

      Other Tax Preparers

      Finance professionals

      Financial planners

        Speaker: Robert S. Keebler, CPA/PFS

        Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA is a partner with Keebler & Associates, LLP and the current chairman of the AICPA Advanced Estate Planning Conference. In 2007 he was inducted into the Estate Planning Hall of Fame of National Association of Estate Planners & Councils. He has also been named by CPA Magazine as one of the Top 100 Most Influential Practitioners in the United States and one of the Top 40 Tax Advisors to Know During a Recession. His practice includes family wealth transfer and preservation planning, charitable giving, retirement distribution planning, and estate administration.

         



        Reading: Ut enim ad minim veniam

        14 minutes 2 questions

        Video: Greetings and introduction

        15 minutes

        Audio: Interactive lesson

        7 minutes 3 questions

        Reading: Ut enim ad minim veniam

        22 minutes

        Reading: Ut enim ad minim veniam

        14 minutes

        Video: Greetings and introduction

        15 minutes

        Audio: Interactive lesson

        7 minutes 2 questions

        Reading: Ut enim ad minim veniam

        22 minutes

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        Overview:
        • Speaker : Robert S. Keebler
        • Duration :120 Minutes
        • Date :08/08/2025
        • Time :1pm ET / 12pm CT / 11am MT / 10 am PT

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