Reporting Interest and Gain from Tax-Exempt Securities ON DEMAND

Overview

Not only are Forms 1099 being released later and later each year, they have become more confusing than ever-especially when it comes to fixed income securities. This course will explain what’s on page one of the 1099 compared to the backup material and how to report all of the items correctly.

Highlights

History of current 1099 reporting of fixed income securities. What treatment is required versus what can be elected. Examples using actual 1099 forms.

Prerequisites

None.

Designed For

Staff focused on compliance and 1099 reporting and financial planners recommending fixed income securities.

Objectives

Recognize Covered vs. Non-Covered Securities. Identify the differences between Bond Premium, Acquisition Premium and Accrued Market Discount. Determine how 1099 information for bonds is reported on Forms 1040 and 1041.

Preparation

None.

Notice

None.