This course discusses the federal income taxation of estates and trusts and explains how the law applies in these areas. We'll address how to approach estates, simple trusts, complex trusts, and grantor trusts, with line-by-line direction given on how to prepare Form 1041 in a number of situations. You'll learn about: -Income and deduction issues -Emerging new rules regarding principal and income allocations -Distributable net income -The separate share rule -Income in respect of a decedent -The tier system for allocations -Alternative minimum tax -Qualified Subchapter S Trusts -Electing Small Business Trusts and Generation-skipping transfer trusts -And much more