Tax Professionals’ Guide: Mastering Form 4797 Challenges 2 Credits
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The intricacies of Form 4797, often overlooked, are a crucial part of your role as a tax professional, especially when it comes to accurately reporting on business asset sales.
This CE Course will analyze the nuances of the form and its specific applications. Throughout the course, we will systematically dissect the form, highlighting common pitfalls and best practices.
Focusing primarily on the sale of business assets, Form 4797 includes various aspects that may confuse even seasoned professionals. Beyond the essential reporting, we will discuss the peculiarities of preferred stock, mark-to-market traders, Section 1244 stock, and small business investment company stock. These unique elements can significantly impact how gains and losses are reported, making it imperative to explore them thoroughly. By analyzing these aspects, attendees will understand the form's application comprehensively.
Key topics covered:
Join this CPE course, it is not just about learning but also about empowerment. It aims to equip you with the skills necessary to navigate the complexities of Form 4797 confidently. Through interactive discussions and practical examples, you will gain actionable insights that can be applied immediately.
For more CE Tax Courses, Click here.
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02158-24-S) | 2 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02158-24-S) | 2 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1744) | 2 CE | Approved |
| Personal Financial Specialist (PFS) | 2 CPD | Eligible |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Chartered Financial Consultant (ChFC) | 2 CE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02158-24-S) | 2 CE | Approved |
| Tax Planning for Certified Financial Planner (CFP-US) (Approval No. 332981) (Valid upto : Dec 31, 2025) | 2 CE | Approved |
| Retirement Income Certified Professional (RICP) | 2 CE | Eligible |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-02158-24-S) | 2 CE | Eligible |
| Wealth Management Certified Professional (WMCP) | 2 CE | Eligible |
| Financial Services Certified Professional (FSCP) | 2 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02158-24-S) | 2 CE | Approved |
| Chartered Special Needs Consultant (ChSNC) | 2 CE | Eligible |
| Chartered Advisor in Senior Living (CASL) | 2 CE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02158-24-O) | 2 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02158-24-O) | 2 CE | Approved |
| California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1744) | 2 CE | Approved |
| Taxes for Personal Financial Specialist (PFS) | 2 CPD | Eligible |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Chartered Financial Consultant (ChFC) | 2 CE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02158-24-O) | 2 CE | Approved |
| Tax Planning for Certified Financial Planner (CFP-US) (Approval No. 332981) (Valid upto : Dec 31, 2025) | 2 CE | Approved |
| Taxes for Retirement Income Certified Professional (RICP) | 2 CE | Eligible |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-02158-24-O) | 2 CE | Eligible |
| Taxes for Wealth Management Certified Professional (WMCP) | 2 CE | Eligible |
| Taxes for Financial Services Certified Professional (FSCP) | 2 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02158-24-O) | 2 CE | Approved |
| Taxes for Chartered Special Needs Consultant (ChSNC) | 2 CE | Eligible |
| Taxes for Chartered Advisor in Senior Living (CASL) | 2 CE | Eligible |
Credits
Course Level
Instructional Method
Pre-requisites
Advance Preparation
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MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) 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.
Looking to fulfill your Enrolled Agent (EA) Continuing Education (CE) requirements? MY-CPE online Enrolled Agent CE courses are the best for you. Earn EA CE Credits while enhancing your domain knowledge and expertise in diverse tax regulations and practices. Our courses are designed to provide you with the latest updates and deep insights to keep you ahead in your field. With flexible scheduling and a user-friendly platform, MY-CPE offers you a greater convenient and interactive learning experience. Join MY-CPE today and take the next step in advancing your career as an Enrolled Agent.
Nicholas has worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nicholas has authored publications for the AICPA’s Journal of Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties and Circular 230 Enforcement, published by Thomson Reuters. Nicholas has been recognized as the Top 5 Under 35 CPAs in Virginia, and is a member of the AICPA’s Tax Executive Committee. Nicholas is an adjunct professor at the University of Mary Washington. He is a graduate of Carthage College, University of Connecticut (M.S. in Accounting), Case Western Reserve University School of Law (J.D.), and Georgetown University (LLM in Taxation).
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We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
RMK
Very informative and you covered a lot of information in a short period of time. I thought there was a little extra time spent on the IRC 1244 Stock. In 22 years of preparing taxes I have never had this come up with a client. I thought the illustration of how to complete the Form 3115 was very helpful.
Love taking the classes that Nicholas teaches -- he provides actual stories along with the information to make the presentation easier to follow. Also like that he shows us the actual forms and how the information flows through them.
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.webp "Annual Federal Tax Update - C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065)")
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