Learning the Rules About Retirement Plan Income by Analyzing Form 1099-R ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $336.00
Non-Member Price $386.00
Overview
Dealing with Form 1099-R in tax preparation often presents a unique challenge. While your client may submit this form, it only reveals a part of the story, leaving critical gaps in understanding and reporting retirement income accurately. This incomplete picture can lead to potential misreporting and the risk of incurring retirement plan penalties. The form’s complexity, coupled with the IRS’s detailed knowledge derived from it, creates a pressing need for tax professionals to grasp the nuances and underlying details that are not immediately apparent. This online Webcast CPE course is designed to provide a comprehensive understanding of Form 1099-R. You will learn to determine the significance of the codes on the form, recognize the additional information necessary from clients or their custodians, and identify the correct reporting methods for Net Unrealized Appreciation, Qualified Charitable Distributions, and Required Minimum Distributions. By diving into the intricacies of Form 1099-R and its implications for IRS reporting, this course equips you with the knowledge and skills to navigate these challenges effectively, ensuring accurate reporting and avoidance of penalties for your clients.
Highlights
Roth early distribution example. IRA rollovers. RMD and QCD examples. Net unrealized appreciation example. Form 1099-R.
Prerequisites
None.
Designed For
CPAs, EAs, and other tax professionals.
Objectives
Determine the significance of codes entered on Form 1099-R. Recognize the additional information you may need from your client or their custodian to report items correctly. Identify ways NUA, QCDs and RMDs are reported (or not reported) to IRS.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Mary Kay Foss, California CPA Education Foundation
Mary Kay Foss, CPA, a director with Sweeney Kovar LLP, has more than 30 years of practical experience in advising clients about retirement, income and estate planning issues. She is a frequent lecturer for community, professional and business groups and has authored and presented courses for tax professionals throughout California. Foss is past chair of both the CalCPA Estate Planning Committee and the Committee on Taxation. She is a past president of the Estate Planning Council of Diablo Valley, the East Bay Chapter of CalCPA and the Estate Planning Council of the East Bay. She is a member of the AICPA Trust, Estate and Gift Tax Technical Resource Panel and has been quoted in California CPA magazine, as well as national publications.
Non-Member Price $386.00
Member Price $336.00