Decedent Estate and Final 1040 ON DEMAND

Overview

Join us for this essential class on critical issues affecting the decedent. What is the significance of “Step Up” Basis on decedent’s assets? What forms are required or recommended to be filed? What happens with the decedents Capital and Net Operating Losses? Who or What is a Personal Representative? Who can sign the decedent return if no estate is open? Significance of IRC Section 454 regarding Savings Bonds will be discussed in addition we will define terms associated with the decedent, review filing dates, and separating income and expenses between the decedent and estate. Bonus Material: Review issues surrounding delay or frozen refunds for deceased individuals, obtaining a POA for a decedent, and issues surrounding decedent’s Digital Assets.

Highlights

Critical issues affecting the decedent.

Prerequisites

None.

Designed For

CPAs.

Objectives

Define important terms and checklists. Review forms, filing dates, and requirements. Discuss the significance of protecting deceased’s identity. Examine personal representative duties. Who can sign returns? Classify income and expenses - where does it go? Explain basis of estate property. Explore capital losses and NOLs. Explore other issues. Investigate what’s new?

Preparation

None.

Notice

None.