Reporting 1099-Cs for Business & Personal Returns Webinar

Summary

Your client hands you a 1099-C, Cancellation of Debt (COD)... now what? Is it taxable, is it non-taxable? Is it even reportable? To determine these and other tax consequences, tax preparers need to assess a variety of issues beginning with the taxpayer’s solvency. Next, the tax preparer will need to determine whether the COD is personal or business and whether the debt is recourse or nonrecourse. This webinar addresses what you as a tax professional need to know to determine the proper tax reporting for cancelled debt, for individuals, partnerships and partners, S corporations and shareholders, and C corporations and shareholders.

Objectives

Upon completion of this course, you will be able to:

  • Identify cancellation of debt income for individual taxpayers.
  • Identify cancellation of debt income for business taxpayers.
  • Correctly report cancellation of debt.
  • Correctly calculate cancellation of debt income.
  • Complete tax returns for businesses and individuals with cancellation of debt income.

Course Details

Our researchers will answer your questions during the presentation. This webinar includes the presentation slides, Attendee Top Questions and access to the webinar recording.






   

Presented by: Betty Stehman, CPA, CIA

​​​​​How to Earn CPE

​To receive full credit for a webinar, you must respond to at least 70% of the polling questions that are asked by the instructor during the webinar and you must be logged in for at least 90% of the presentation.

Please allow up to 7 days for us to verify attendance and issue certificates.

Cancellation Policy

Because this is an online education offering, it is nonrefundable.

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