CE/CPE Program Descriptions

Field of Study: Federal Tax Law Topics / Taxes

Who Should Attend: Enrolled Agents, CPAs, Tax Preparers, Tax Attorneys

Advanced Preparation: None

Monday, June 8, 2025

Avoiding Taxes and Penalties on Early Retirement Plan Distributions [2-Hour CE]

Early distributions from a retirement plan or an IRA are subject to both income tax and a 10% penalty. This session will discuss ways to avoid paying taxes and the exceptions to the 10% penalty on these distributions. Also discussed will be the rollover rules for distributions and how to correct a missed rollover.

Learning objectives:

• Identify when an early retirement plan distribution is not subject to income tax
• Identify the exceptions to the 10% early withdrawal penalty from IRAS & Retirement Plans
• Determine if your client qualifies for one of the exceptions
• Understand the rollover rules and how to correct a missed rollover

Required Minimum Distributions - The Latest Rules, The Real Impact [2-Hour CE]

The Final SECURE 2.0 Regulations have significantly changed how we handle Required Minimum Distributions (RMDS) - especially when it comes to inherited IRAs and retirement plans. If you've felt like the rules keep changing, you're not wrong!

In this session we will discuss that's new, what's confusing, and what's critical to get right. We will learn how how to properly calculate RMDS both during the account owner's lifetime and after their death, incorporating the newest guidance from IRS. Also discussed will be the further complexities depending upon whether the beneficiary is an eligible designated beneficiary.

And of course, we will cover what happens when things go wrong - including the latest updates on penalty relief and how to help clients fix missed RMDs before it's too late.

Learning objectives:

• Accurately calculate the required minimum distribution from an IRA or Retirement Plan during an account owner's life and after their death depending upon their beneficiary
• Identify who qualifies as an eligible designated beneficiary
• Recognize and avoid costly penalties for failure to take a required minimum distribution

Schedule D - The Good, The Bad and the Downright Ugly [2-Hour CE]

Numerous transactions are reported on Schedule D and Form 8949. In this session we will discuss how to correctly report those transactions from Form 1099-B when the basis is incorrect, there is a wash sale, or the stock qualifies as Section 1244 Stock. We will also discuss how to correctly report transactions from Form 1099-K and Form 1099-S. Finally, we will analyze the sale of personal assets, persona! bad debts and worthless stock or securities.

Learning objectives:

• Understand what is a capital asset
• Correctly report transactions from Form 1099-B, Form 1099-K and Form 1099-S Understand how to report personal bad debts and worthless stock or securities
• Correctly report the sale of a personal asset

Deductible or Not?  [2-Hour CE]

"Is it deductible?" is one of the most common questions clients ask. The answers have changed since TCJA and OBBBA. These questions are designed to replicate real life situations encountered in the typical tax office.

Learning objectives:

• Identify what is still deductible after TCJA and OBBBA.

Tuesday,  June 9, 2026

Form 4797 - In Depth [2-Hour CE]

Form 4797 is the Swiss army knife of tax forms a large number of totally different transactions are reported on this form most involving the disposition of business assets. In this session we will analyze in detail each section of Form 4797 and how to correctly enter the sale(s) of asset(s) in that section. Code Sections 1231, 1245, 1250, and 197 will be discussed as well as how to correctly enter the transaction in your tax software.

Learning objectives:

• Understand Code Section 1231, 1245 and 1250 transactions
• Correctly report the sale of business assets
• Correctly report the sale of business real estate
• Identify how to report other business asset transactions on Form 4797

Deciphering Settlement Sheets [2-Hour CE]

This session is a line by line analysis of HUD-1 (the most common settlement statement). Examples are provided for each line indicating whether the item is deductible, not deductible or an addition to basis for the different types of property transactions; such as principal residence, second home, investment property, or rental property.

Learning objectives:

• Understand the difference between HUD-1, ALTA and Closing Disclosures
• Correctly report the deductible items on the settlement sheet
• Recognize the non-deductible items on the settlement sheet
• Correctly increase basis by the appropriate items on the settlement sheet

Reporting Sales of Business and Rental Real Estate [2-Hour CE]

There are numerous tax issues involved in the sale of business or rental real estate. This sale is usually reported on Form 4797 and subject to various recaptures. In this session we will examine how different scenarios need to be reported on the tax return.

Learning objectives:

• Identify when the gain is ordinary income under Section 1245 or 1250
• Compute both Section 1250 recapture and unrecapture.
• Understand how and why to make a partial disposition election.

Winning the Hobby Loss Audit  [2-Hour CE]

Many taxpayers are involved in an activity that could be considered a hobby for tax purposes. The rules for how to report the income and expenses depend on whether the activity is a hobby or business. In this session we will examine the nine factors Tax Court uses to determine if an activity is a hobby or business. We will analyze the nine factors in a Tax Court case that the taxpayer won and review these nine factors on how the author resolved her personal hobby loss audit.

Learning objectives:

• Understand how to correctly report a hobby activity
• Understand the nine relevant factors
• Review a winning Tax Court case and why the taxpayer won
• Review how the author resolved her personal hobby loss audit

Questions

Contact education@vasea.org or if you have any questions.