Instructions for Form 1041-N›(Rev. December 2025)›General Instructions

Accounting Methods

Instruction 1041-N — Instructions for Form 1041-N, U.S. Income Tax Return for Electing Alaska Native Settlement Trusts · 2026-10-03 edition · updated 2026-10-04 · United States

Figure taxable income using the method of accounting regularly used in keeping the ANST's books and records. Generally, permissible methods include the cash method, the accrual method, or any other method authorized by the Internal Revenue Code. In all cases, the method used must clearly reflect income.

Generally, the ANST may change its accounting method (overall method or for any material item) only by getting consent on Form 3115, Application for Change in Accounting Method. For more information, see Pub. 538, Accounting Periods and Methods.

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▸Contents — Instruction 1041-N — Instructions for Form 1041-N, U.S. Income Tax Return for Electing Alaska Native Settlement Trusts

Instruction 1041-N — Instructions for Form 1041-N, U.S. Income Tax Return for Electing Alaska Native Settlement Trusts

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