Shobhit Sharma

Handled the complete preparation and technical review of federal US Fiduciary Income Tax Returns (Form 1041) across diverse grantor, simple, and complex trust structures. Managed end-to-end preparation, generation, and distribution of Schedule K-1 to beneficiaries, ensuring precise reporting of taxable income, deductions, and credits. Executed multi-state fiduciary income tax filing processes, accurately evaluating state nexus, residency rules, and trust income sourcing to ensure full compliance.

Ernst & Young (EY) (2023-01 – 2026-09)

• Handled the complete preparation and technical review of federal US Fiduciary Income Tax Returns (Form 1041) across diverse grantor, simple, and complex trust structures.
• Managed end-to-end preparation, generation, and distribution of Schedule K-1 to beneficiaries, ensuring precise reporting of taxable income, deductions, and credits.
• Executed multi-state fiduciary income tax filing processes, accurately evaluating state nexus, residency rules, and trust income sourcing to ensure full compliance.
• Leveraged strategic Section 663(b) 65-day elections across complex trust accounts during the post-year-end window, optimizing distributions to capture maximum fiduciary tax efficiency.
• Interpreted complex trust instrument provisions and trust deeds including 5x5 withdrawal powers, unitrust calculations, and age-attainment distribution triggers to execute precise fiduciary accounting and ensure compliant tax allocations.
• Resolved complex IRS and state tax notices by conducting targeted technical research and drafting response letters, successfully securing penalty waivers for trust clients.
• Prepared additional tax filings such as Form 56, 8858, 1042-S as part of the trust return package.
• Prepared and technically reviewed 600+ complex hedge fund K-1s (Form 1065) via line-by-line forensic analysis to bypass automated software mapping errors; audited Box 11/13 data points using extensive footnote disclosures, performed taxable income reconciliations, and directed high-volume multi-state allocations alongside Schedule K-3 cross-border reporting.
• Prepared extension returns and worked on complex returns involving 50+ Schedule K-1s (Form 1065), oil and gas reconciliation, rental property income.
• Assisted in preparing federal gift tax returns (Form 709) by recording cash and non-cash gifts (including charitable donations), tracking lifetime exclusion limits, and applying spousal gift-splitting elections.
• Reviewed junior staff deliverables to ensure EY standards while directly operating ONESOURCE and CCH Axcess for tax research, compliance, and execution.

Product Controller at Nomura (2016-10 – 2022-12)

• Producing T+1 P&L to traders & onshore controllers for prime finance and equity finance desk and explaining P&L gains and losses on the basis of P&L drivers.
• Experience of working on equity and total return swap.
• Investigating flash vs. actual difference for P&Ls as and when it arises by collaborating with onshore controllers, and indentifying the root cause of break.
• Performing Account verification to ensure balance sheet nominals balance in back office is in line with front office and providing explanation for manual adjustments and threshold breach.
• Reporting of dividend accruals on ex-date and identifying exclusion and inclusion based on positions held.
• Investigating any discrepancies or unexpected variance in PL by identifying unusual trade or any other unusual/huge attribution movement.
• Delivers month-end client commission settlements and resolves FO/MO/BO breaks via reconciliation analysis and manual adjustments.
• Ensured strict adherence to internal control frameworks, regional regulatory mandates, and global accounting standards during daily reporting and month-end legal entity closing cycles.

OneSource Trust Tax (OTT) 1041 worksheet / work papers at Deloitte Tax Services India Private Limited. (2014-11 – 2015-12)

• Reviewing of OTT 1041 worksheets which includes reviewing of various transactions like Expenses transactions, Income transactions and other transactions in relevant codes.
• Analyzing of unidentified transaction in tax codes 900 and 985, investigating and putting them in correct tax code.
• Reviewing beneficiary distribution to check if it is correctly linked to beneficiary.
• Review the beneficiary K-1 and ensuring the consistency with prior year.
• Critiqued whether trust is a simple/complex/grantor.
• Elementary knowledge of forms like 926, 8858 etc.
• Experience of working on hedge fund k-1 and inputting them in OneSource Trust Tax (OTT).
• Familiar with Notices received from IRS and directing it to concerned team after detailed analysis.
• Researched on the difference in state tax return filed last year and current year.

MBA/PGPM in Finance – IBS Business School, Mumbai (2014)

B.Com. – Raja Balwant Singh College, Agra (2012)

H.S.C – St. Georges College, Agra (2009)

S.S.C. – St. Georges College, Agra (2007)