This mini-course will teach participants how to apply, implement, and evaluate the strategic tax aspects of marital and financial setbacks. Property transfers, asset divisions, alimony, filing status, exemptions, and child support are examined. The cancellation of indebtedness income inclusion rules are discussed in the context of debt forgiveness and property foreclosure. Emphasis is given to the exceptions from income inclusion contained in §108. The tax treatment of property repossession under §1038 and bad debt treatment under §166 is reviewed.
Additional Course Details
- Filed of Study: Taxation
- Author: Danny Santucci
- Course Level: Overview
- Pre-Requisites: General Understanding of Federal Income Taxation None
- Interactive: Yes
- Enrolled Agent: Yes
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