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Author: |
Danny C Santucci, JD |
Course Length: |
Pages: 25 ||| Word Count: 17,460 ||| Review Questions: 10 ||| Final Exam Questions: 10 |
CPE Credits: |
2.0 |
IRS Credits: |
2 |
Price: |
$17.95 |
Passing Score: |
70% |
Course Type: |
Text - IRS Enrolled Agents |
Technical Designation: |
Technical |
Field Of Study: |
Taxes |
Approved Audience: |
NASBA QAS - NASBA Registry |
Key Takeaways: |
This mini course reviews the strategic tax aspects of marital dissolutions, property transfers, and asset divisions during divorce.
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Frequently Asked Questions: |
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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 exemplified in selected asset divisions of the residence, business interests, insurance, and pension benefits. |
Usage Rank: |
15926 |
Release: |
2006 |
Version: |
1.0 |
Prerequisites: |
General understanding of federal income taxation. |
Experience Level: |
Overview |
Additional Contents: |
Complete, no additional material needed. |
Additional Links: |
Internal: Defensive Divorce - v14 (Course Id 2364)
Internal: Making the Best of Bad Situations - Personal Bankruptcy, Divorce, Foreclosure, Bad Debts, Repossessions and Other Tax Tribulations - v15 (Course Id 2688)
External: IRS Publication 504 Divorced or Separated Individuals
External: How to Split IRAs and Other Retirement Plans During a Divorce
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Advance Preparation: |
None. |
Delivery Method: |
QAS Self Study |
Intended Participants: |
Anyone needing Continuing Professional Education (CPE). |
Revision Date: |
15-Jul-2026 |
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. |
Keywords: |
Divorce Transfers and Settlements - Tax Mini Course - CPE course for CPAs |
Learning Objectives: |
Learning Assignment & 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 a 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. 2. Identify the tax impact of property divisions and the importance of complying with §1041. 3. Determining the deferred tax liability of interspousal purchases and later dispositions, recognize the tax deferral of §1031 exchanges, and identify the 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 U.S. vs. Foreign Spouse Mandatory Scope Property vs. Income Unpaid Income Savings Bonds Receivables Interest Imputed Interest Transfers to a Former Spouse 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 & Recordkeeping Purchases Between Spouses Residence Home Mortgage Interest Deferral & Exclusion of Gain Business & Investment Property Recapture Section 1031 Exchange Asset Separation 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 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 |
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