How to Prepare the Fiduciary Income and Decedent's Final Lifetime Income Tax Returns

Do you feel confident completing each line of the fiduciary income tax returns or decedent’s final lifetime income tax returns? Do you know when you have a choice of return on which to report an item of income or a deduction or what criteria to consider in making such a determination? Although these tax returns may look straightforward on their face, pitfalls lie hidden in them for the unwary. These materials will guide you through the federal and Pennsylvania fiduciary income tax returns and the decedent’s final lifetime tax returns, along with each return’s accompanying schedules. Included in each chapter is plenty of practical advice about how to prepare error-free returns, as well as explanations of terminology and concepts related to significant entries. The sample returns highlight the commonly mishandled items and other issues that can be particularly troublesome. You will find yourself referring to this reference book time and time again.

Summary of Contents

• Preparing the Decedent’s Life Period Returns
• Preparing the U.S. Fiduciary Income Tax Return
• Income and Deductions in Respect of Decedent<
• Net Investment Income Tax
• Preparing the Pennsylvania Fiduciary Income Tax Return
• Section 645 Elections
• Electronic Filing