Reporting Consolidated 1099s for Investments ON DEMAND

Overview

With multiple 1099 forms now merged into one mega-report for clients and the IRS, it’s no wonder fixed income reporting feels more confusing than ever. This course breaks it all down how the information provided to IRS differs from the backup material in the form, and how to report it all correctly’to help you make sense of the chaos and keep your filings clean.

Highlights

History of 1099 reporting of securities dividends, interest, and OID. Elections versus required reporting of amortization. Examples using actual 1099 forms.

Prerequisites

None.

Designed For

CPAs and tax professionals.

Objectives

Recognize covered vs. non-covered securities. Identify the differences between bond premium, acquisition premium and accrued market discount. Determine how 1099 information is reported on Forms 1040 and 1041.

Preparation

None.

Notice

None.