<p>This course will be an overview of:</p> <ul> <li>Trust and estate formation and purposes</li> <li>Form 1041 filing requirements</li> <li>Choice of filing period</li> <li>Common types of income and deductions reported on Form 1041</li> <li>The impact and benefit of making certain elections (e.g., Sections 645 and 663(b) elections)</li> <li>Section 1014 basis adjustment reporting</li> <li>The allocation of income between entity and beneficiaries, and to the proper tax period</li> <li>The process of filling out Form 1041</li> </ul>