50. Tax Traps That Snag Individual Taxpayers! | Webinar
- Course Description
This course introduces Tax Professionals to some of the scary transactions to which they should be alerted. The course discusses topics addressing:
Traps in transfers of property as a result of divorce under §1041
§104 inclusion of workers’ compensation benefits being subjected to taxable income as if they were included under §86(c) as social security benefits
§465 at-risk limitations and the loss of allowable current year deductions on Schedule Cs, partnerships, and S-Corporations* Recapture of §25A Education Credits on Form 8863
§1239 ordinary income recognition on the sale of depreciable property to a related party of the seller
- Learning Objectives
At the conclusion of this course, the participants will have received a reality check on how many tax transactions can go wrong when filing the Form 1040. This session will help Tax Professionals understand that some subtle twists can create a nightmare in the preparation of a “simple” return. At the conclusion, participants will be better prepared to tip-toe through some haunting transactions that will keep them up at night. Tax Professionals will obtain the knowledge needed to discuss and plan with their Form 1040 clients on some unique transactions.
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Your certificate will be emailed to you within 10 business days of the completion of the course.
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