Tax Issues in Divorce (4101066A)

Explore in-depth the tax aspects of divorce. This interactive course emphasizes specific, real-life problems from the CPA's point of view.

Materials include all the rules related to property settlements (IRC Sec. 1041), alimony (IRC Sec. 71), child support, deductibility of legal fees, stock option rules, filing status options and much more.

The course discussion presumes a basic understanding of these rules and covers some of the more advanced issues as well as an update of current cases, rulings and regulations.

• Identify the tax issues in a divorce.
• Understand the CPA's role in a divorce.
• Familiarize yourself with California's divorce process, including collaborative practice.

• The difference between alimony (tax term) and spousal support (legal term)
• Tax definition of child support
• Alimony recapture
• Considering filing options before year-end including discussion of marriage tax penalty and AMT
• When the out spouse is considered to be living in the residence under IRC Sec. 121
• Tax traps in dividing stock options and other property settlement issues
• Proper reporting on separate tax returns for the year of separation
• Who gets the dependency exemption
• Spousal fiduciary duties
• Current case update
• Potential tax benefits of obtaining a Decree of Legal Separation
• New rules for Registered Domestic Partners

CPAs, CFPs, tax return preparers and attorneys who have divorced or divorcing clients; tax practitioners who advise clients on the tax and financial aspects of marital dissolutions and who assist clients' legal counsel during the marital dissolution process.

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To ensure that all credit is properly recorded, please review your personal profile and update your CPA, CFP, CTEC and/or Bar license number(s).