The National Association of Tax Professionals

The National Association of Tax Professionals


  • Topic(s): Federal Tax Law
  • Presenter(s): Kathryn M. Keane
  • Session#: 923-21
  • Session Length: 50 minutes
  • Program: NATP 2013 Tax Forums
  • Date: Aug 20, 2013
Product Name Price
Audio MP3 (download)
AudioPoint for Mobile Device - MP4 (download)
AudioPoint for Computer DVD-ROM (ship)

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Foreclosures - Details:

Foreclosures. It is a common term these days, but how do you handle the tax aspects of a foreclosed property? This session is designed to assist the tax professional in working through a foreclosure, which is deemed a sale of the property.
Upon completion of this session, the learner will be able to:
  • Distinguish the differences between personal-use and business-use property foreclosures.
  • Properly account for a Form 1099-A or Form 1099-C in respect to the foreclosure.
  • Consider and properly record the tax consequences to the taxpayer on the deemed sale.
  • Determine the deemed sale price of the foreclosure property.