Pension, Annuity, IRA and Social Security Income Reporting – 2017 Law – Course Manual Only
This program covers the reporting of income from retirement plans, education accounts and social security income.
- Overview of Form 5498 IRA Contribution Information
- Discussion of Form 1099R and distributions codes
- Use of Form W4-P Withholding Certificate for Pension or Annuity Payments
- Overview of the different kids of retirement plans taxpayers may participate in
- Using Form 8606, Nondeductible IRAs, to figure the taxable part of a distribution from an IRA
- Traditional IRA to Roth IRA conversions
- Roth IRA to traditional IRA recharacterization
- Inherited IRAs
- Loans from pension and annuity plans
- Additional tax owed on certain early distributions from retirement plans
- Exceptions to additional tax on early distributions from retirement plans
- Additional tax on certain distributions for education accounts
- Additional tax on excess contributions to certain accounts
- Required minimum distributions
- How to complete Form 5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts
- Calculating the taxability of annuity income with the Simplified General Rule
- Lump-sum distributions
- How to report partially taxable distributions from IRAs
- Instructions for Social Security Form SSA-1099 Benefits statement, Form RRB-1099 Tier I Railroad Equivalent Benefit statement, and Form RRB-1099R Tier II Railroad Retirement Benefits statement
- Form W-4V social security Voluntary Withholding Request
- How to calculate the taxability of social security income using the social security benefits worksheets
- Taxation methods to apply to lump-sum social security payments
- Special deductions relating to social security benefits income and repayments
By the conclusion of this course, you should be able to:Interpret information reported on Forms 1099-R and 5498
- Identify which taxpayers can receive special tax treatment for lump-sum distributions
- Use Form 8606 Nondeductible IRAs to figure the taxable part of a distribution from an IRA, including a Roth conversion
- Explain who is subject to the 10% additional tax on distributions from retirement accounts, and how to claim an exception to the penalty where allowed
- Determine the taxable amount of a distribution from an education savings account
- Describe the penalties that apply to excess contributions to IRAs and MSAs
- Complete Form 5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts
- Use the Simplified Method worksheet to figure the taxable part if a distribution from a retirement account
- Explain how to report Tier I and Tier II Railroad Retirement
- Calculate the taxable portion of social security benefits received using the Social Security Benefits Worksheet
- Explain how to make a lump-sum election on retroactive payments of social security benefits
The course manual is delivered as a PDF document which you can download and print.
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Course Manual Only
Ends: Thursday, August 15th, 2019 11:59 PM (PDT)
Started: Wednesday, August 15, 2018 11:59 PM (PDT)
Course Credits: 0
No CE is awarded with the purchase of this manual. You must enroll in and complete the full version of this course to received CE.
Field of Study
Basic tax knowledge
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