For businesses, investing in capital assets is essential but complex, and clients need specific guidance regarding this topic. This course delves into the details of Schedule D and the fine points of Form 8949, Sales and Other Dispositions of Capital Assets. We start with a complete technical review of capital assets and the requirements for the special tax rates applied to long-term capital gains and qualified dividends. The materials provide examples of each type of transaction that is reported on Schedule D and Form 8949. The accompanying workbook includes exercises complete with source documents that demonstrate proper reporting for dozens of transactions. This course will help you acquire the knowledge you need to successfully guide your clients in relation to these essential forms.
After completing this course, you will be able to:
- Discuss the definition of a capital asset
- Recognize how other forms flow into schedule D
- Recognize how to calculate capital loss carry forward
- Identify the various tax rates applied to long-term capital gains and qualified dividends, unrecaptured IRC § 1250 gains, and collectibles
Back to top