1099s are getting messier’are you ready? 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.
Learning 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
Major Topics
• History of 1099 reporting of securities dividends, interest, OID and gain/loss
• Elections versus required reporting of amortization/accretion
• Examples using actual 1099 forms
