41. Overview of Basis for Federal Income Tax | Webinar
- Course Description
This course provides a broad overview of the importance of understanding the basics needed in order to understand the fundamental purpose of basis when preparing income tax returns and advising clients.
The course starts with understanding that basis impacts every tax entity whether an individual or business.
The course provides an overview that the amount of investment and reinvestment is the key to calculating the correct basis.
The overview of losses and loss limitations are stressed.
The course is a starting point for advancing to NSTP’s course on “Basis Issues for Investing in Real Estate” and subsequent course “Basis Issues for Investing in Partnerships and Subchapter S-Corporations”.
- Learning Objectives
At the end of the session participants will have attained a solid overview of better understanding how basis is acquired, how to determine the amount of basis at the end of the tax year and the importance of basis limitations and carryforward of losses resulting from loss limitations.
- The participant will be better equipped in discussing basis issues with their clients.
IRS: Federal Tax Law Topics 1
CTEC: Tax Law 1 CPE
NASBA: Taxes 1 CPE
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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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