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This course will teach participants how to apply, implement, and evaluate the strategic tax aspects of marital dissolutions and living together arrangements. Current perspectives on property transfers, asset divisions, alimony, filing status, exemptions, and child support are examined with an emphasis on planning con-siderations. The cancellation of indebtedness income inclusion rules are exam-ined in the context of debt forgiveness and property foreclosure. Emphasis is given to the exceptions from income inclusion contained in §108. The tax treat-ment of property repossession under §1038 is explored with detail given to the calculation of gain and received property basis. Finally, bad debt treatment un-der §166 is reviewed and critical distinctions are made between business and non-business debts.
Additional Course Details
- Filed of Study: Taxation
- Author: Danny Santucci
- Course Level: Overview
- Pre-Requisites: General Understanding of Federal Income Taxation
- Interactive: Yes
- Enrolled Agent: Yes
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