Filing Final Income Tax Return for Deceased Person: Mastering Allocations, Understanding IRD and More
Recording of a 110-minute CPE webinar with Q&A
This webinar will give tax advisers and professionals detailed guidance on the specific issues arising from filing the final income tax return for a deceased taxpayer. The panel will discuss the role and requirements of a personal representative filing a return under Form 1310 authority, review the mechanics of obtaining information from the IRS, offer in-depth analysis of IRD calculations, as well as discussing the proper reporting of stock options, basis differential on covered securities, and other specific classes of income. The panel will also review planning options and available tax elections.
- Filing requirements
- Income calculations
- Income in respect of a decedent
- Special income issues
- Stock options
- Basis adjustment to covered securities
- Section 199A
- Available tax elections and coordination with fiduciary return to decide on available elections
The panel will discuss these and other critical questions:
- What are the filing requirements and determinations for a final tax return?
- What income items must be reported as IRD?
- How does the tax preparer report capital gains income in the case of compensatory stock options?
- What elections may, or must, be made in preparing the final tax return?
- What are the factors to consider in coordinating with the executor or personal representative to determine tax impact of specific elections, such as the section 645 election?
Darren J. Mills, Esq., CPA, ChFC, CLU
Mills Elder Law
Mr. Mills has more than 20 years of experience advising both middle market companies and large multi-nationals... | Read More
Mr. Mills has more than 20 years of experience advising both middle market companies and large multi-nationals regarding complex federal and international tax issues. He also advises both strategic and financial buyers in tax due diligence and structuring as well as providing sell-side due diligence/structuring. He has taught classes on S Corporations at Seton Hall University and the University of Baltimore School of Law.Close