Getting the Data Right – Understanding 1099 Forms

3 Credits: Taxes


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Getting the Data Right – Understanding 1099 Forms

Course Level
CPE Credits

3 Credits: Taxes

Course Description

Before taking this CPE webcast course, tax professionals might find themselves overwhelmed by the complexity of processing and understanding the information from Forms 1099-INT, OID, B, and DIV. The challenge lies in comprehending the IRS’s requirements and the implications of legislative changes on tax reporting. However, after completing this online course, participants will experience a significant transformation in their understanding and approach to these forms. They will transition from confusion to clarity, equipped with in-depth knowledge of how to report bond premiums and qualified dividends, and the ability to identify key differences in securities and premiums. The bridge to this transformation is the course’s detailed analysis of legislative changes and practical examination of real forms issued by brokerage firms. This CPE webcast course is essential for any tax professional looking to enhance their expertise in handling complex tax data and ensuring accurate and compliant tax return preparation for their clients.

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Learning Objectives

Upon completion of this course, participants will be able to:

  • Determine how 1099 information for bond premiums and qualified dividends is reported on Forms 1040 and 1041;
  • Recognize Covered vs. Non-Covered Securities; and
  • Identify the differences between Bond Premium, Acquisition Premium and Accrued Market Discount.
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Course Specifics

Course ID
Revision Date
April 25, 2023


Advanced Preparation


Compliance Information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02343-23-O
IRS Federal Tax Law Credits: 3
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1911
CTEC Federal Tax Law Credits: 3

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at

Meet The Experts

Mary Kay Foss CPA is a frequent lecturer for professional and business groups. She has over thirty years of practical experience advising about retirement, income and estate planning issues. Ms. Foss is a member of the AICPA Individual and Self-Employed Technical Resource Panel, past chair of the AICPA Trust Estate and Gift Tax Technical Resource Panel and past chair of both the Estate Planning and the Taxation Committee of CalCPA. She is also past president of the Estate Planning Councils of Diablo Valley and East Bay and the East Bay Chapter of CalCPA. She teaches classes for CalCPA and has …

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