Before taking this CPE webcast course, 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 online 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 CPE webcast 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.
Learning Objectives
Upon completion of this course, participants will be able to:
Determine how 1099 information for bond premiums and qualified dividends is reported on Forms 1040 and 1041;
Recognize Covered vs. Non-Covered Securities; and
Identify the differences between Bond Premium, Acquisition Premium and Accrued Market Discount.
Major Topics
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