This course dives into the complexities of trust taxation, offering a comprehensive overview of the various types of trusts and their reporting requirements on Form 1041. Gain insights into critical calculations, including fiduciary accounting income (FAI), distributable net income (DNI) and income distribution deduction (IDD). Explore optional forms, elections and tax planning strategies through practical examples of completed work. This session equips you with the knowledge to optimize trust management and compliance.