Decedent's Final Return: Postmortem Income Tax Planning — 1 Virginia General Credit

In this one-hour August 5, 2024 program, Steven G. Siegel provides a practical explanation of how to handle a decedent's final federal income tax return, the federal income tax returns of the estate, and the numerous postmortem elections which are available.

Mr. Siegel is president of The Siegel Group, a Morristown, NJ-based nationally-recognized firm specializing in tax consulting, estate planning, and advising family business owners and entrepreneurs. He holds a BS from Georgetown University, a JD from Harvard Law School, and an LLM in Taxation from New York University. Mr. Siegel is also the popular drafter and contributor of many of the fully-editable forms available to attorneys on NLFforms.com.

Major topics include:
Final 1040
- general rules
Special rules regarding the fiduciary income
- deceased S corporation shareholders
- partnerships and LLCs
- trust income
- wages, salaries, retirement plan distributions
- installment sales
- principal residence sales
- Series EE bonds
- medical expense deductions
- losses, credits and other deductions
- dividends
- estimated taxes
- tax liabilities and refunds
- 1099s and other information forms
- income in respect of a decedent ("IRD")
Elections relating to fiduciary income tax return
- Form 1041
- fiscal year selection
- IRC section 645: qualified revocable trust election
- estate administration expenses deduction
- 65-day election for distribution allocations
- estimated tax payments
- charitable contributions deduction
- recognizing gain on property distributions
- final year of the estate or trust

FORMS: For fully-editable, immediately downloadable forms in many practice areas, please go to www.NLFforms.com

BOOKS FOR LAWYERS: Over 125 useful books on important legal issues facing attorneys are available for immediate download at www.NLFforms.com. (Reading books without also listening to or viewing a recorded seminar earns NO CLE credits.)