Description:

This book is for preparing 2023 taxes. This course helps tax professionals gain a basic knowledge and understanding of Form 8949, Sales and Other Dispositions of Capital Assets, and Schedule D (Form 1040), Capital Gains and Losses, for individual taxpayers. Any time capital assets such as stocks, property, collectibles or cryptocurrency are sold, the taxpayer must report the gain or loss to the IRS using Form 8949 and Schedule D (Form 1040). This course teaches tax professionals how to properly report a sale on an individual income tax return and how to calculate such things as the taxpayer’s basis in the capital asset, the proceeds from the sale, and whether it resulted in a gain or loss.

• Identifying sales that are reported on Form 8949 and Schedule D (Form 1040)
• Calculating the adjusted basis of capital assets
• Determining whether the holding period of an asset is short-term or long-term
• Summarizing the tax treatment of capital losses
• Applying the appropriate tax rates to capital gains
• Analyzing if the net investment income tax applies to the taxpayer
• Computing the §121 exclusion of gain from sale of principle residence

Product Details:

Item Number: 23316

Level: Basic

Authors: NATP Staff

Published: 2023

Format: Print - 124 pages

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Corresponding CPE Courses:

Get the e-book FREE when you purchase the corresponding 2023 course.