Gross and Taxable Estate
The gross estate identifies includible property interests at death; the taxable estate then accounts for allowable deductions before transfer-tax computations.
Study this topicPart 1 / Individuals
Specialized Returns for Individuals
Handle estates, gifts, trusts, foreign reporting, and other returns that intersect with individual taxation but follow their own filing systems.
8 focused lessons
Learn the rule, then work the decision.
Every lesson pairs a direct answer with a practical scenario, a common wrong turn, and a repeatable study action.
Estate Deductions, Credits, and Form 706
Form 706 reporting depends on the gross estate, adjusted taxable gifts, filing threshold, elections, deductions, and available credit framework.
Study this topicGift Tax Annual and Lifetime Rules
Gift-tax analysis identifies the donor, completed transfer, present or future interest, annual exclusion, deductions, and use of lifetime credit.
Study this topicGift Splitting and Generation-Skipping Transfers
Gift splitting can treat a gift by one spouse as made half by each when requirements and elections are satisfied; generation-skipping transfers add a separate tax layer.
Study this topicTrust and Estate Income Tax
A fiduciary return separates entity income, deductions, distributions, distributable net income, and beneficiary reporting.
Study this topicFBAR and Form 8938
FBAR and Form 8938 overlap for some foreign assets but have distinct filers, thresholds, definitions, due dates, and filing destinations.
Study this topicForeign Entities and Transfers
Interests in foreign corporations, partnerships, trusts, and transfers can trigger entity-specific information returns beyond income reporting.
Study this topicNonresident and Dual-Status Returns
Nonresident and dual-status returns require residency-period analysis, source and effectively connected income classification, treaty review, and the correct return format.
Study this topicTurn reading into retrieval
Test Part 1 with current IRS sample questions.
Use the free sample for immediate explanations, then continue with the PassFast question bank when you are ready for full coverage and performance reporting.