Companion to PPC's 1040 Deskbook - Course 1 - Topics Related to Gains and Losses (TDBTG221)  

Identify how to treat stock holding periods, capital gain rates, mutual funds, Section 1244 stock losses, and worthless securities on Form 1040.

Determine the best treatment for publicly traded options, futures contracts, short sales, and employee stock options.

Recognize how the anticonversion rules, qualified small business stock, wash sale losses, virtual currency, and the distinction between stock traders and investors affect Form 1040.

Recognize issues related to the installment method, including when to use it, how to elect out, and how to dispose of related obligations.

Identify the rules for like-kind exchanges, involuntary conversions, and qualified opportunity funds.

Identify appropriate deductions for business and nonbusiness bad debts.

Recognize how to treat debt discharge income for solvent, insolvent, and bankrupt taxpayers.

Determine the best tax treatment for foreclosures by lender, reducing seller-financed debt, and modifying consumer credit card debt.