Decedent Estate and Final 1040 FLEXCAST

Overview

This course covers the critical issues affecting the decedent of the deceased. What is the significance of Step Up Basis on decedent’s assets? What forms are required and/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? This course will examine the significance of IRC Section 454 regarding Savings Bonds and 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 of the deceased.

Prerequisites

None.

Designed For

CPAs and tax professionals.

Objectives

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

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.