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About
This program provides a comprehensive exploration of Form 1099 reporting requirements, with a focus on critical updates for 2023 and 2024. Participants will gain insights into issues surrounding Form 1099-K, crowdfunding income, gambling activities, student-athlete NIL earnings, and payments to research study participants. Emphasis will be placed on correctly classifying income, reconciling Form 1099-K and 1099-MISC to prevent duplication, and understanding the reporting thresholds that impact taxpayers. The course will also discuss the nuances of hobby income versus trade or business income and the potential tax consequences. By mastering these topics, tax professionals will be equipped to navigate the complexities of 1099 reporting and ensure client compliance with IRS regulations.

2 IRS CE/2 NASBA CPE*

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*Self-Study recording not available for NASBA CPE credit.
When?
Thursday, January 23, 2025 · 1:00 p.m.
Eastern Time (US & Canada)
Duration: 2 hours
Price
$79.00
Language
English
Who can attend
Everyone
Dial-in available? (listen only)
Not available.
Agenda
  • Identify the reporting thresholds and requirements for Form 1099-K, including phase-in changes for 2024.
  • Distinguish between personal transactions, hobby income, and self-employment income for tax reporting purposes.
  • Analyze the tax treatment of gambling winnings and losses, including Form W-2G and Schedule C or Schedule A reporting.
  • Determine when research study participant income rises to the level of a trade or business and requires Schedule C reporting.

Hosted By Tax Practice Pro
  • Tax Practice Pro webinar platform hosts Form 1099 Issues for Various Taxpayers
    Tax Practice Pro is a nationwide provider of live and webinar based Continuing Education. We help tax professionals grow. Learn more at TaxPracticePro.com
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Featured Presenters
  • 1685715417-0aa7d20643b25db1

    John Sheeley EA

    Founder
    Chester, New York based John Sheeley, EA began his career in the tax industry in 1987, passing the IRS special enrollment exam in 1995. His career includes 13 years as a multi-unit franchisee of a national tax firm and 5 years as a tax manager at...
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