Course Year: 2012
Course Level: Basic
Prerequisite: None
Advance Preparation: None
|
CPE Credits |
Designation |
Field of Study |
| IRS * |
4 |
EA |
Federal Tax Law Topic |
| NASBA |
0 |
CPA |
N/A |
| CTEC |
4 |
CRTP |
Federal Tax Law Topic |
| CFP Board |
0 |
CFP® |
N/A |
* NATP will report CPE credits to the IRS for all PTIN holders. CPE is currently not mandatory for RTRPs or RTRP candidates and any option to register or participate in this program is strictly voluntary.
Fees: $65 for Members and $89 for Nonmembers
Summary
This course will introduce the tax professional to the role and importance basis plays in capital recovery, gain realization and recognition. You will learn how to determine an asset’s initial basis and make adjustments to basis. Identify and examine the unique basis rules for stocks, bonds and mutual funds. Lastly, you will learn how to track basis in a partnership and an S corporation interest.
Table of Contents
Objectives
Upon completion of this course, the tax professional will be able to:
- Identify basis based on various means of acquisition including purchase, creation, gift and inheritance.
- Determine necessary basis adjustments.
- Calculate the basis of a bond when it’s purchased or sold before its maturity date.
-
Determine if a wash sale exists.
-
Identify original basis for partners and shareholders.
-
Determine the timing and ordering of basis adjustments.
-
Distinguish between outside and inside basis in a partnership.
-
Understand the differences between stock basis and debt basis in an S Corporation.
-
Explain how debt in a partnership or S Corporation debt impacts basis.
For more information regarding refund, complaint and/or program cancellation policies, please contact our Member Services Department at 800.558.3402, ext. 3.
CPE Sponsor Information