IRS Form 1040 - Schedule D Update

Training Provided by Lorman Education Services nUnited States taxpayers are experiencing many challenges in our current economic environment that will have major effects on their tax returns. The collapse of the housing market, home foreclosures and worthless securities has affected most taxpayers. Preparing the 1040 Schedule D is challenging for even the most efficient tax professional. By attending this teleconference, you will be reminded of the proper reporting procedures for some of the more challenging Schedule D items affecting many taxpayers in today's economy. Information will include key changes to the reporting of capital gains and losses on Schedule D.

IRS Form 1040 - Schedule D Update Agenda

1. Overview of Schedule D Changes
1. Qualified Dividends and Net Capital Gain Rate Reductions
2. New Exclusions for Sale of Your Home
3. Deemed Sales by Expatriates
4. Tax on Child's Investment Income
5. Like-Kind Exchange Treatment for Certain Stocks
6. Worthless Securities
2. Sale of Residence
1. General Requirements
2. Exclusions of Gains
3. Sale After Office in Home Deductions
4. Partial Rentals
3. Installment Sales
1. Electing out of Installment Method
2. Reporting Installment Sales
3. Contingent Payment Sale
4. Unstated Interest
5. Repossessions
4. Capital Gains and Losses
1. Short-Term or Long-Term
2. Nondeductible Losses
3. Wash Sales
4. Short Sales
5. Worthless Securities
6. Traders in Securities
7. Exclusions of Gains
1. Qualified Small Business Stock
2. Qualified Community Assets
3. Enterprise and DC Zone Assets
5. Foreclosures

About The Training Provider: Lorman Education Services

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