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Wednesday, July 24  |  1:15 p.m. - 2:05 p.m.  |  Concurrent Session

Trust Accounting

1 CPE for AFSP, EA, CFP®, CPA, CRTP   

A key concept to tackle when dealing with trusts is fiduciary accounting income (FAI). FAI is the driver when determining whether a fiduciary of the beneficiaries pay tax on the trust’s income. This amount is different than taxable income and distributable net income (DNI). We’ll review what FAI is and how it is used when preparing Form 1041 for a trust. 

Upon completion of this session, you will be able to:

  • Calculate FIA 

  • Summarize the importance of FAI for a trust return 

  • Identify the difference between FIA and DNI 

CPE information
Duration: 50 minutes
Course level: Basic
Prerequisite: None
Advanced preparation: None
Delivery method: Group Live

Jaye Tritz

Owner with H&R Block

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