What is a Trust? What is an Estate? -- The Fundamentals of Fiduciary Accounting -- Taxation of Trusts and Decedent's Estates -- Gross Income for Trusts and Decedent's Estates -- Ordinary Deductions and Credits -- The Income Distribution Deduction -- How Beneficiaries are Taxed -- Special Rules Round-Up -- The Tax Treatment of Grantor Trusts -- Taxation of Special Trusts -- Filing Form 1041 -- Form 1041.