Form 8971 was developed by the IRS to enable practitioners to comply with the new basis consistency rules enacted under IRC 1014(f) and 6035. In this presentation you will learn when and how to complete Form 8971 and when the form is required to be supplemented in later years. You will also learn how to comply with the basis consistency rules in situations where Form 8971 is not required by the regulations.
Who Should AttendAttorneys, CPAs, Enrolled Agents
Instructional MethodGroup: Internet-based
NASBA Field of Study
Taxes (2 hours)