Form 1041 Schedule D: Reporting Capital Gains for Trusts and Estates
Navigating Beneficiary Allocations, Loss Limitations, DNI, Tax Computation Using Maximum Capital Gains Rates, and More
Recording of a 110-minute CPE webinar with Q&A
This webinar will provide tax advisers with a thorough and practical guide to reporting trust capital gains income on Schedule D of Form 1041. The panel will demonstrate calculating and allocating capital gains and losses to beneficiaries, discuss the distributable net income (DNI) rules of IRC 643(a), and offer line-by-line guidance on completing the Schedule. The webinar will also address basis consistency reporting, split-interest trust allocations and special Form 8949 issues.
Outline
- Calculating capital gains and losses
- Allocating gains and losses between trust/estate and beneficiaries (Part III)
- Capital loss limitation (Part IV)
- Tax computation using maximum capital gains rates (Part V)
- Navigating basis consistency rules
- Reporting capital gains for split-interest trusts on Form 5227
Benefits
The panel will discuss these and other important topics in this webinar:
- Under what circumstances may capital gains be included in DNI, and how does DNI inclusion impact Schedule D reporting?
- Line-by-line guidance to completing Schedule D
- Calculating maximum capital gains rates for Part IV of Schedule D
- Capital loss limitations and carry-forwards to beneficiaries
Faculty

Deborah Petrone, CPA, MTax, CGMA
Principal
Schlabig & Associates
Ms. Petrone manages her firm’s specialized tax services including preparing fiduciary and estate tax returns,... | Read More
Ms. Petrone manages her firm’s specialized tax services including preparing fiduciary and estate tax returns, facilitating estate and wealth planning, and entity specification and tax planning. She is a member of the American Institute of Certified Public Accountants and The Ohio Society of CPAs. She also is a member of the Akron Tax Club and Akron Estate and Tax Planning Council.
CloseLuke C. Bean, Esq., LLM
Cushing & Dolan
Mr. Bean concentrates on estate planning, developing strategies to transfer wealth efficiently using sophisticated... | Read More
Mr. Bean concentrates on estate planning, developing strategies to transfer wealth efficiently using sophisticated planning techniques that defer or eliminate taxes. He also focuses on tax aspects of estate administration. In his prior position, he designed and drafted estate plans for clients with an emphasis on probate avoidance and creditor protection.
CloseJeffrey M. Bergman
Schiff Hardin
Mr. Bergman works with a broad range of individuals and families to design and implement estate plans, helping... | Read More
Mr. Bergman works with a broad range of individuals and families to design and implement estate plans, helping clients accomplish their business, tax and charitable objectives. He advises clients on issues including fiduciary responsibilities, estate and income tax planning, and succession planning for family-owned businesses and professional firms. He has presented and authored articles on trust and estate planning issues.
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