Date: February 5th, 2026

Time: 1pm ET | 12pm CT | 11am MT | 10am PT

Duration: 120 minutes

Description:

The upcoming fiduciary filing season demands a working command of Form 1041, and this beginner‑friendly course builds that foundation step by step. Participants gain a clear understanding of how estates and trusts are taxed, how income flows from the entity to beneficiaries, and how to navigate Form 1041 compliance, reporting, and basic planning opportunities.​

The session explains how different trust types behave for income tax purposes, how concepts like fiduciary accounting income and distributable net income (DNI) drive who pays the tax, and how elections such as the 65‑Day Rule can shift taxable income between the trust and its beneficiaries. Practical guidance and real‑world tips help attendees avoid common traps, including NIIT exposure and passive activity limitations for trusts and estates.​

Topics Covered:

• Overview of key trust categories for income tax purposes, including simple, complex, grantor, and charitable trusts, plus fiscal‑year considerations.​
• How to distinguish taxable income from fiduciary accounting income and why that distinction matters for distribution and reporting decisions.​
• Detailed explanation of distributable net income (DNI), the Tier Rules, and the Separate Share Rule, using examples to show how income is allocated.​
• Practical use of IRC §663(b)’s 65‑Day Rule to manage DNI, distributions, and tax brackets for trusts, estates, and their beneficiaries.​
• Walkthrough of a 2024 Form 1041 for an estate, including common line items, schedules, and disclosure points.​
• Overview of passive activity rules and NIIT as they apply to trusts and estates, with planning ideas and common pitfalls to avoid.​

 Session Highlights:

• Identify the major types of trusts for income tax purposes and their core tax characteristics.​
• Identify trust structures commonly used for special tax or estate planning objectives.​
• Distinguish between taxable income and fiduciary accounting income and understand how each is determined.​
• Apply the concept of distributable net income (DNI) to determine who is taxed on trust and estate income.​
• Identify the impact of the Separate Share Rule and Tier Rules on the allocation of DNI among beneficiaries.​
• Implement basic tax planning strategies using IRC §663(b) (the 65‑Day Rule) to optimize trust and beneficiary tax outcomes.​
• Identify and correctly report income, deductions, and other tax items for grantor trusts on Form 1041 and related statements

Credits and Other information:

• Recommended CPE credit – 2.0
• Recommended field of study – Taxes
• Session Prerequisites and preparation: None
• Session learning level: Update
• Location: Virtual/Online
• Delivery method: Group Internet Based
• Attendance Requirement:  Yes
• Session Duration: 120 minutes

Who Will Benefit:

• CPA
• Enrolled Agents (EAs)
• Tax Professionals
• Attorneys
• Other Tax Preparers
• Finance professionals
• Financial planners

About Our Speaker

Robert Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA
Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished) is a partner with Keebler & Associates, LLP and is a 2007 recipient of the prestigious Accredited Estate Planners (Distinguished) award from the National Association of Estate Planners & Councils. He has been named by Forbes as one of the 2024 America’s Top 200 CPAs, 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