Making the Best of Bad Situations

$199.00 each

Course ID: CPE Credits Field Of Study Author or Speaker:
EWTFM-U-01329-19-S  20 Credits   Taxes   Danny Santucci
Instructional Method: Advanced Preparation: Program Prerequisites: Experience Level:
Interactive Self Study  None   None   Overview

 

 

Course Description: 
This course will teach participants how to apply, implement, and evaluate the strategic tax aspects of marital dissolutions and living together arrangements. Current perspectives on property transfers, asset divisions, alimony, filing status, exemptions, and child support are examined with an emphasis on planning considerations. The cancellation of indebtedness income inclusion rules are examined in the context of debt forgiveness and property foreclosure. Emphasis is given to the exceptions from income inclusion contained in §108. The tax treatment of property repossession under §1038 is explored with detail given to the calculation of gain and received property basis. Finally, bad debt treatment under §166 is reviewed and critical distinctions made between business and nonbusiness debts.

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