Forms 1099 are being released later each year, and they’re more confusing than ever, especially those related to fixed income securities. In this course, we’ll go over the contents of page one of 1099, explain how it differs from the backup material, and how to report it all correctly.
History of current 1099 reporting of fixed income securities. Elections versus required reporting. Examples using actual 1099 forms.
Staff at all levels focused on compliance and 1099 reporting. Financial planners recommending fixed income securities.
Recognize covered vs. non-covered securities. Identify the differences between bond premium, acquisition premium and accrued market discount. Determine how 1099 information for bonds is reported on Forms 1040 and 1041.
Mary Kay Foss
Mary Kay Foss, CPA, a director with Sweeney Kovar LLP, has more than 30 years of practical experience in advising clients about retirement, income and estate planning issues. She is a frequent lecturer for community, professional and business groups and has authored and presented courses for tax professionals throughout California.
Foss is past chair of both the CalCPA Estate Planning Committee and the Committee on Taxation. She is a past president of the Estate Planning Council of Diablo Valley, the East Bay Chapter of CalCPA and the Estate Planning Council of the East Bay. She is a member of the AICPA Trust, Estate and Gift Tax Technical Resource Panel and has been quoted in California CPA magazine, as well as national publications.
Non-Member Price $119.00
Member Price $89.00