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I. Introduction to the Federal Income Tax Issues Concerning Cancellation of Debt and the Reporting Required When a Taxpayer Receives Form 1099-A and Form 1099-C
December 9, 2019@12:30 PM - 2:00 PM PST
Member Price » $39.00 | Non-Member Price » $59.00
Course Description: This course introduces the Tax Professional to the Federal Income Tax issues surrounding the “foreclosure and/or abandonment” of property and the issues of a “deemed sale” by the taxpayer when an abandonment or foreclosure occurs. In addition, the course will introduce the requirements of the “Cancellation of Debt”, what is a “Cancellation”, and in which tax year the cancellation actually occurs and requires the recognition of income.