Reporting Capital Gains and Losses – 2017 Law – QAS Self-Study

Course Description

Different rules apply to the sale of capital and noncapital assets. Gains and losses on the disposition of personal and investment property are taxed differently than gains and losses on the sale of business property. This course covers reporting requirements for dispositions of capital assets on Schedule D and individual transaction reporting on Form 8949.

Topics Covered

  • Establishing if the character of gain or loss is short-term or long-term
  • Holding period
  • How to figure gain or loss on the sale of property
  • Seller financing of a contract sale
  • Treatment of capital losses and carryforwards of capital losses
  • Capital gains tax rates
  • Reporting gains from the sale of personal-use property
  • Overview of Form 1099-B – Proceeds From Broker and Barter Exchange Transactions
  • Instructions for completion of Form 8949 – Sales and Other Dispositions of Capital Assets
  • How to complete Schedule D – Capital Gains and Losses
  • How to figure tax using the Capital Gains Tax Worksheet
  • Comprehensive illustration covering the tax mechanics of preparation of Forms 8939, 8949, FinCEN 114, and Schedules B and D

Objectives

At the conclusion of this course you should be able to:

  • Distinguish between a sale and a trade
  • Explain special rules for sales between related parties
  • Distinguish between a capital and noncapital asset
  • Evaluate information to determine the holding period for capital assets
  • Evaluate whether you have a taxable sale or trade
  • Interpret information provided on 1099-B tax reporting documents
  • Determine basis adjustments for reporting stock sales by employees where basis is increased by amounts included on Form W-2
  • Prepare Form 8949 and Schedule D

$70.00

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Section 7.1

QAS Self-Study

Course Type:

CPE Tax

Term:

2017 Tax Law

Registration Status:

Registration Open Ends: Friday, November 1st, 2019 11:59 PM (PDT)

Course Status

Available Started: Thursday, November 1st, 2018 11:59 PM (PDT)

Ends: Sunday, November 1st, 2020 11:59 PM (PDT)

 

Course Length:

5 Hours

Course Fees:

Registration $5.00
Tuition $10.00
Course Materials $55.00
Total $70.00

Course Credits:

NASBA CPE 5 Hours
IRS (Federal Tax Law) 5 Hours
Oregon Tax Board 5 Hours
Oregon State Board of Accountancy 5 Hours
Texas State Board of Public Accountancy 5 Hours
New York State Board of Public Accountancy 5 Hours
QAS Self-Study 5 Hours

Field of Study

Taxes

Program Level

Intermediate

Prerequisite

Basic tax knowledge

Delivery Method

QAS Self-study

Educational Venue

Online Course

IRS Federal Program Number

VRD3D-T-00556-18-S

Meet Your Instructor

April Gutierrez, Enrolled Agent:
Known for her entertaining speaking style and ability to make a complex subject easy to understand, April is frequently invited to speak to business groups and news media on tax-related topics. She has a B.A. in Communication Studies from Murdoch University in Perth, Australia. She obtained her Oregon LTC in 1995.

April resides in Portland, Oregon, with her husband Jess and their two sons. Her pastimes include gardening, travel, and playtime with her Arabian horse, Fancy.

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Carey Chaput
Understanding how to interpret basis correctly
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I found the homework and classwork more difficult than the exam. Very good exercises!!

Course Requirements

Any Time, Anywhere

Our online Learning Management System (LMS), offers you the flexibility to study at your own pace while still enjoying many of the benefits of a live classroom.

  • Watch lecture video recordings of live instructor-led classes.
  • Break to complete classwork and quiz assignments as instructed.
  • If you have a question or need help understanding your assignments, use our Q&A forum to post questions and receive answers from your instructor.
  • Complete assignments and tests then submit your answers online.

Advance Preparation Required

Our site requires an up-to-date Adobe Flash® Player and use of a high-speed Internet connection. To ensure your learning experience is worthwhile and productive, we ask all students to take the time to become familiar with our site before attending class.

Recommended Minimum Requirements

The following requirements are recommended for using this site. Few students have reported success while operating outside of these requirements, therefore these are provided as a guideline for troubleshooting if you are having difficulties viewing or operating in this site.

Operating System:
  • Windows
  • Apple
  • Unix/Linux
  • Solaris

*Your operating system should be fully updated.
**Mobile devices are not supported.

Browser:

If you encounter log in or video viewing difficulties, we strongly recommend you install Google Chrome.

In any browser, both Cookies and JavaScript must be enabled.

Connection: Broadband (512 Kbps+). Mobile hotspots are NOT supported.
Browser Plug-Ins: The latest of the following:

Peripherals: Headphones and/or Speakers

Disclosures and School Policies

Terms of Enrollment

Pacific Northwest Tax School's course materials and teaching techniques are valuable proprietary information of Pacific Northwest Tax School, and all such information is subject to copyright, including written, recorded, internet based as well as all other electronic media. Each Student agrees that she/he will use the information only for purposes of education and training; and as a condition of enrollment, that they will not disseminate the information to any third party and will treat the materials as confidential information of Pacific Northwest Tax School. As a condition of enrollment, Students pledge not use any information in any competitive fashion, including to create or derive competitive materials. Students further agree that any breach of these terms and conditions shall cause the school irreparable harm, entitling Pacific Northwest Tax School to injunctive relief, as well as any other remedy that may be available at law or equity. Students taking continuing education courses shall have twelve months from date of enrollment to successfully complete the course and receive their Certificate of Completion.  Students taking the federal only portion or the Oregon 80 Hour Basic Tax Course students have nine months from the date of enrollment to sucessfully complete the course.

Basic Tax Law

Students taking any Basic Tax Law course, agree to comply with all Terms of Enrollment outlined the enrollment agreement form for that course, a link to which can be found on the catalog page for each Basic Tax course.

Prerequisites & Advance Preparation

Students intending to write the Oregon State Tax Exam, must be at least 18 years of age, and have High School Diploma or GED. Students using our self-paced internet based program should prepare for classes by downloading and printing course materials. For more information including detailed course descriptions and learning objectives, view the details of each course, located on Pacific Northwest Tax School's catalog pages at: https://www.pnwtaxschool.com/list-of-all-courses/

Cancellations/Refunds

Continuing professional education courses including interactive, non-interactive and correspondence program fees are non-refundable and non-transferable. Webinars/Webcasts are non-transferable and in most cases non-refundable. A student may choose to be switched to another Webinar/Webcast of equal or lesser value if a conflict with the scheduled time exists. In the case of a missed Webinar/Webcast a request to transfer to a new Webinar/Webcast must be made with 48 hours of when the Webinar/Webcast aired. Refunds will be issued ONLY prior to the start of the Webinar/Webcast. A $15.00 processing fee will be withheld from all refund amounts. For more information regarding administration policies including complaints and refunds, please contact our offices at 503-646-5600.

Problem Resolution

Pacific Northwest Tax School gives the highest priority to delivering quality education programs. If you have concerns about our programs please contact the Pacific Northwest Tax School Education Coordinator at: [email protected]

Disclaimer

Manuals distributed and programs sponsored by Pacific Northwest Tax School are designed to teach application of tax laws. Pacific Northwest Tax School works to provide accurate and timely material to students, however the school does not have any responsibility if human and/or mechanical error exists.  Accordingly, no assurance is given by Pacific Northwest Tax School that such information is totally comprehensive or accurate in its coverage of such subject matter. Information published or sponsored by Pacific Northwest Tax School should not be relied upon as a substitute for independent research to original sources of authority such as the Internal Revenue Code, IRS Publications and Internal Revenue Rulings. Pacific Northwest Tax School, its authors, and instructors do not render legal, accounting, or other non-educational professional advice. If legal advice or other expert assistance is required, the services of a competent professional should be sought.  Credit hours are subject to change without notice.

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