• videocam Live Webinar with Live Q&A
  • calendar_month June 3, 2026 @ 1:00 p.m. ET./10:00 a.m. PT
  • signal_cellular_alt Intermediate
  • card_travel Tax Preparation - Trusts and Estates
  • schedule 110 minutes

Form 8971 Consistent Basis Reporting Requirements for Estates: Final Regulations, Schedule A, and Supplemental Reporting

$347.00

This course is $0 with these passes:

CPE
ALL
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About the Course

Introduction

This course will provide tax advisers to trusts and estates with a practical guide to the estate basis consistency reporting requirements of Section 1014(f) and completing Form 8971, Information Regarding Beneficiaries Acquiring Property From a Decedent. The panel will review the final regulations issued Sept. 17, 2024, and outline useful tips to assist fiduciary clients in completing Form 8971.

Description

The final regulations provide clarification and relief from filing requirements for certain estates. Form 8971 is no longer required for estates below the annual exclusion amount ($15 million for individuals; $30 million for married couples). Additionally, the provision assigning a zero basis to unreported assets has been removed. However, the estate basis consistency rules continue to present significant challenges to estate executors and advisers to fiduciaries. IRC Section 1014(f) requires consistency between an asset's reported estate tax value and the basis of the asset when acquired by the estate beneficiary. And the required reporting of subsequent transfers remains. 

Advisers must understand which estates are required to file Form 8971, what assets are subject to reporting, how to prepare Schedule A, and the requirements for reporting subsequent transfers.

Listen as our expert panel provides you with a thorough guide to the basis consistency reporting requirements and tools to assist your fiduciary clients in timely and proper filing of Form 8971.

Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

Date + Time

  • event

    Wednesday, June 3, 2026

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

I. Basis consistency reporting rules

II. Final regulations for Sections 1014(f) and 6035

III. Exemptions from reporting requirements

IV. Form 8971 reporting

V. Preparing Schedule A

VI. Supplemental reporting requirements

VII. Unresolved issues

VIII. Best practices

The panel will cover these and other critical issues:

  • Which estates are required to file Form 8971?
  • What assets are subject to reporting?
  • Preparing Schedule A, Beneficiary Information Regarding Property Acquired from a Decedent
  • Changes arising from the final regulations
  • Supplemental reporting requirements and due dates

Learning Objectives

After completing this course, you will be able to:

  • Identify which property is exempt from reporting requirements
  • Determine when Schedule A must be given to beneficiaries
  • Decide which estates are required to file Form 8971
  • Ascertain when supplemental reporting is required
  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite:

    Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of estate, gift and trust taxation including various trusts types, the unified credit, and portability.


BARBRI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .