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Where to Report Consolidated 1099 information

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • EA
  • ORTP
  • MRTP
  • CFIRS
  • CWS

Published: August, 2022

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  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Form 1099 - DIV
    13 mins
  • Form 1099 - MISC
    35 mins
  • Section 1256 Contracts
    40 mins
  • Reconciliation fees expenses and expenditures
    62 mins
  • 1099 - INT
    82 mins

Course Description

Do the letters OID mean anything to you? How about DIV, INT, or MISC? If your answer was "I've seen those letters on a tax form," congratulations. These are among the designations assigned to 1099s you might see as part of a Consolidated Form 1099. 

Confused? A little overwhelmed, maybe? That's understandable; tax forms can be overwhelming for many people. But have no fear: this online CPE webinar can help. It is designed to help escort you through the numbers and notations of your Consolidated Form 1099.

Individuals are investing more and more money into brokerage accounts and each year; the brokerage accounts will produce a consolidated 1099 that needs to be reported on the client's taxes. The Consolidated Form 1099 combines five separate 1099 forms into one. It covers reportable income and transactions for the tax year, from interest income to investment expenses, and royalties to REMIC. But all that information packed into one document can be a little intimidating.

In this CE tax webinar, speaker Nicholas Preusch will look at the consolidated 1099 line by line and discuss what each line represents along with the proper place to report that line on Form 1040.

We will specifically look at items such as Form 1099-DIV, INT, MISC, and B. We will also look at the 1256 contracts and how to properly report these transactions listed on a consolidated 1099. After this CE/CPE webinar, you should feel comfortable reporting any item on a consolidated 1099.

Here is the link to your interests: IRS Approved Courses I CE Courses for Enrolled Agents

Learning Objectives

  • To explain where to report information from Form 1099-DIV.
  • To discuss when you can use summarizing transactions for Form 1099-B.
  • To analyze how to properly report PTP sales.
  • To inspect filling out Part 1 of Form 6781 for 1256 contractions.
  • To analyze where to report Form 1099-INT.
  • To inspect which misc. information on a consolidated 1099 is needed.

Recommended For

  • This IRS-approved CE course is recommended for CPA(US), EA, AFSP, CRTP, MRTP, ORTP, CGFM, ChFCA, CASL, ChSNC, RICP, WMCP, FSCP, PFS, CFIRS, CWS, and other tax professionals who want to understand the consolidated 1099 line by line and along with the proper place to report that line on Form 1040.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 General Credit for Accountant/Bookkeeper/Tax Professionals
  • 2 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1025)
  • 2 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01277-22-S)
  • 2 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01277-22-S)
  • 2 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01277-22-S)
  • 2 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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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 maintenance 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.

NASBA APPROVED

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 through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Nicholas Preusch

Certified Public Accountant (CPA), Nicholas Preusch

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).

Faq

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Ratings and Review

4.8

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JM

Jeremy Miles, CPA (US)

Aug 4th, 2022

great

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