Checkpoint Learning

Course Detail

Tax Issues Involving Debt: Definitions, Bad Debt Deductions, and Cancellation of Indebtedness Income   New

CATEGORY: Taxation
COURSE ID: W693T, VERSION 1.00
  Webinar
4 CPE Credits
Level: Basic
Understanding “debt” and its tax consequences to borrowers and lenders is important, but challenging. In order to reduce the economic costs of bad debts, it is important to understand the tax provisions applicable to partially worthless, wholly worthless, secured, and non-business bad debts, including what is a “bad debt” for tax purposes. On the borrower side, many tax issues are presented in the context of debt workouts and bankruptcy, particularly those involving LLC's, S-corporations, and other pass-through entities. This course addresses the tax definition of debt, rules for claiming bad debt deductions, the creation and exclusion of cancellation of indebtedness income, and consequences of debt workouts on borrowers, including pass through entities. 

Instructor: Jennifer Kowal
Instructor assignments are fluid and subject to change

NOTE: The voluntary IRS Annual Filing Season Program (AFSP) requires that CE Sponsors collect PTINs from IRS professionals who wish to receive IRS credit. IRS PTIN holders (including Enrolled Agents) should enter their IRS PTIN into Checkpoint Learning so that course completions can be reported to the IRS. You do not need to enter your PTIN for each course you take; you only need to add it once. If you have any questions on how to do this, please contact us 800-431-9025.

THIS WEBINAR IS NOT ELIGIBLE FOR CTEC CREDIT.

Included with subscription(s):

Add to Cart
/

Accreditation Information

Learning objectives

Course outline

Requirements