Getting the Data Right – Understanding 1099 Forms FLEXCAST
Available Until
Your Desk
3.0 Credits
Member Price $147.00
Non-Member Price $169.00
Overview
Tax professionals might find themselves overwhelmed by the complexity of processing and understanding the information from Forms 1099-INT, OID, B, and DIV. The challenge lies in comprehending the IRS’s requirements and the implications of legislative changes on tax reporting. However, after completing this course, participants will experience a significant transformation in their understanding and approach to these forms. They will transition from confusion to clarity, equipped with in-depth knowledge of how to report bond premiums and qualified dividends, and the ability to identify key differences in securities and premiums. The bridge to this transformation is the course’s detailed analysis of legislative changes and practical examination of real forms issued by brokerage firms. This course is essential for any tax professional looking to enhance their expertise in handling complex tax data and ensuring accurate and compliant tax return preparation for their clients.
Highlights
1099 information for bond premiums and qualified dividends. Reporting on Forms 1040 and 1041. Covered securities. Non covered securities. Bond premium. Bond acquisition premium. Accrued market discount.
Prerequisites
None.
Designed For
CPAs, EAs, CRTPs, and other tax professionals.
Objectives
Determine how 1099 information for bond premiums and qualified dividends is reported on Forms 1040 and 1041. Recognize Covered vs. Non-Covered Securities. Identify the differences between Bond Premium, Acquisition Premium and Accrued Market Discount.
Preparation
None.
Notice
This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.
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 $169.00
Member Price $147.00