Fundamentals of Tax Forms 1099-C, A, and K

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Cancellation of debt? Abandonment of property? Third-party transactions? These can be complex issues and each of them can affect the others. What do you and your clients need to know about proper reporting for IRS Tax Forms 1099-C, A, and K? In this webinar, we bring these complex topics down to earth. We’ll help you know when each form is needed and how it is used.

Last Revision: April 2024

$32.00
  

Prerequisites

Prerequisites are not necessary to participate in this course and no advance preparation is needed.

Course Description

Cancellation of debt? Abandonment of property? Third-party transactions? These can be complex issues and each of them can affect the others. What do you and your clients need to know about proper reporting for IRS Tax Forms 1099-C, A, and K?

In this webinar, we bring these complex topics down to earth. We’ll help you know when each form is used and how it is used. You can feel confident helping your clients know what to report for cancelled debt, acquisition or abandonment of property, and specific payment systems.

By the end of this course, you will be able to:

  •          Explain the differences between recourse and non-recourse loans
  •          Know when to use Form 1099-C and properly complete it
  •          Identify the exclusions and exemptions to the 1099-C
  •          Detail items of Foreclosure and Repossession
  •          Know when to use Form 1099-A and properly complete it
  •          Discuss the newest rules on Form 1099-K, including third-party transactions, and
  •          Accurately complete Form 1099-K

CPE Facts

Affiliation* CPE Awarded Delivery Method Field of Study Course ID Sponsor ID
NASBA 2 Self-Study Taxes N/A 103137
CTEC 2/0 Self-Study Federal Tax Law 3038-CE-0325 3038
IRS 2 Self-Study Federal Tax Law FQTGU-T-00639-24-S FQTGU
Texas State Board of Accountancy 2 Self-Study Taxes 100436 002921
Pennsylvania State Board of Public Accountancy 1 Self-Study (Non-Interactive) Taxes N/A

* Individuals with other professional credentials should check with their state licensing board or accrediting organization to determine if this program meets their continuing education requirements.

Other Details
Last Revision April 2024
Course Expiration The CPE portion of this course expires one year from date of purchase
DrakeCPE Course Policies and CPE Affiliations