Forms 1099 are being released later each year, and they’re more confusing than ever; especially those related to fixed income securities. In this course, we’ll go over the contents of page one of 1099, explain how it differs from the backup material; and how to report it all correctly.
• Recognize Covered vs. Non-Covered Securities
• Identify the differences between Bond Premium, Acquisition Premium and Accrued Market Discount
• Determine how 1099 information for bonds is reported on Forms 1040 and 1041
• History of current 1099 reporting of fixed income securities
• Elections versus required reporting
• Examples using actual 1099 forms
Staff at all levels focused on compliance and 1099 reporting. Financial planners recommending fixed income securities.