Learning Objective: After completing this course, the student will be able to compute debt relief income and exclusions for; Abandonment of Secured Property, Foreclosures, Repossessions, Short Sales, Cancellation of Debt, Sec 108 Exclusions of Debt Relief Income Including Home Insolvency and the Mortgage Debt Relief Exclusion. The course also includes Rules for Attribute and Basis Reduction and line-by-line instructions for completing Form 982.
CPE Hours: Federal Tax Subject = 3 CPE Credit / Total = 3 CPE Credits
Accreditation: CTEC, IRS, Enrolled Agents, NASBA CPA
Field of Study: Federal Tax Subject
Publication Date: 3/30/2021
Instructional Delivery Method: Self-Study
Advanced Preparation: No Advanced Preparation Required
Author: Lee Reams, Sr.
Course Material: A copy of the course material is available for download under the Additional References tab.
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Certified Public Accountants: ClientWhys is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
ClientWhys is an approved provider for IRS, NASBA QAS, CTEC and the Oregon Tax Preparer Board providing continuing education for CPAs, EAs, IRS and CRTPs.
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