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Course Details

Divorce Transfers and Settlements - Tax Mini Course (Course Id 130)

Updated / QAS / Registry / EA   Add to Cart 
Author : Danny C Santucci, JD
Status : Production
CPE Credits : 2.0
IRS Credits : 2
Price : $19.95
Passing Score : 70%
Primary Subject-Field Of Study:

Taxes - Taxation for Course Id 130

Description :

Participants will learn how to apply, implement, and evaluate the strategic tax aspects of marital dissolutions and living together arrangements. Current perspectives on property transfers and asset divisions are examined with an emphasis on planning considerations. This mini-course reviews property settlements and other transfers incident to divorce. Basis allocation, third party transfers and purchases between spouses are also examined. Common pitfalls for the unwary such as transfers in trust, installment notes, and purchases between spouses are analyzed. Application of these tax principles is exampled in selected asset divisions of the residence, business interests, insurance, and pension benefits.

Usage Rank : 0
Release : 2017
Version : 1.0
Prerequisites : General understanding of federal income taxation.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 19-Aug-2017
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - IRS Enrolled Agents - 130

Keywords : Taxes, Divorce, Transfers, Settlements, Tax, Mini, Course, cpe, cpa, online course
Learning Objectives :

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

ASSIGNMENT
    At the start of the materials, participants should identify the following topics for study:
      * Property rights
      * Premarital agreements
      * Application of 1031
      * Incident to divorce
      * Property basis
      * Purchases of residence between spouses
      * Purchases of business interests between spouses
      * Selected asset divisions of residence & business interests
      * Real & personal property
      * Pension benefits
Learning Objectives:
    After reading the materials, participants will be able to:
      1. Identify the various forms of marital property and how to proceed with a tax structured property settlement noting the benefits of premarital agreements to avoid potential divorce problems.
      2. Recognize property settlements under 1041 by:
        a. identifying its application to interspousal and third party transfers,
        b. specifying the factors that determine whether or not a property transfer is incident to divorce under 1041,
        c. determining property basis for the transferor and transferee spouse under 1041.
      3. Identify remedies for the deferred tax pitfall of 1041 by:
        a. determining deferred tax liability of interspousal purchases,
        b. recognizing the tax deferral of 1031 exchanges,
        c. specifying the key elements of the home sale exclusion and stating their application;
        d. recognizing benefit distribution problems and the tax advantages of QDROs.
Course Contents :

Chapter 1 - Divorce Transfers and Settlements

 

Property Rights

Marital Property

Common Law Property

Community Property

Equitable Distribution

Separate Property

Premarital Agreements

Uses & Benefits

Control & Scope

Limitations

Retirement Equity Act of 1984

Enforceability Requirements

Checklist

Property Settlements

Section 1041

Application of 1041

Mandatory Scope

Property vs. Income

Savings Bonds

Receivables

Interest

Imputed Interest

Incident to Divorce

Related To Termination

Rebuttable Presumption

Divorce or Separation Instrument

Transfers in Trust

Third Party Transfers

Property Basis

Gift Variation

Passive Activity Loss Property

Property Transferred In Trust

Basis in U.S. Savings Bonds

Negotiated Property Divisions

Adjudicated Property Divisions

Caselaw

General Rule - Immediate & Specific

Liabilities

Holding Period

Notice & Record keeping

Purchases between Spouses

Residence

Home Mortgage Interest

Deferral & Exclusion of Gain

Business & Investment Property

Recapture

Section 1031 Exchange

Asset Separation

Final Personal Property Regulations

General & Product Class

Multiple Asset Exchanges

Related Parties

Two-Year Restriction

Foreign Property

Form 8824

Spousal Transfers

Installment Sale of Assets

Selected Asset Divisions

Residence

Section 121 Home Sales

Two-Year Ownership & Use Requirements

Special Divorce Rules

Tacking of Prior Holding Period

Prorata Exception

Limitations on Exclusion

Installment Obligations

Business Interests

Corporate Stock

Section 302 Stock Redemption

Recapitalization

Partnerships

Section 736(a) Payments

Effect on Recipient

Section 736(b) Payments

Effect

Exclusions From 736(b) Treatment

Liabilities

Series of Payments

Section 754 Election

Insurance Policies

Real & Personal Property

Classification of Assets

Character of Gain or Loss

Pension Benefits

Qualified Domestic Relations Order

Taxation of Distributions

Deferred v. Present Division of Benefits

Deferred Division Arguments

Present Division or Alternate Property Arguments

Individual Retirement Arrangements

IRA Deduction Limit

Rollovers

Divorce Distributions

Amounts Not Rolled Over

Retirement Planning After Divorce

Social Security Benefits

Divorced Spouse Benefits

Divorced Widow(er) Benefits

Military Pensions

Divorced Spouse Benefits

Jurisdiction Requirement

Disposable Pay

Direct Payment

Divorced Widow(er) Benefits

Social Security Offset

Civil Service Pensions

Divorced Spouse Benefit

Divorced Widow(er) Benefit

Railroad Pensions

Divorced Spouse Benefit

Divorced Widow(er) Benefit

Bankruptcy

 

Glossary

Taxes Course 130 Home: https://www.cpethink.com/tax-cpa-courses
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