After completing this Module, you will know:

Topic:  Divorce-Related Tax Issues of Dividing Property

1. Most property transfers are non-taxable.
2. Whether spousal support is a disguised property transfer?
3. Tax treatment of US bonds.
4. Tax treatment of Annuities.
5. Tax treatment of Life Insurance.
6. Recapture of tax benefits.

Topic:  Sale of the Principal Residence

1. Gain Exclusions for the sale of home and how they work.
   • Ownership requirements.
   • Use requirements.
   • Review different case studies.
2. How to determine cost basis.
3. How to identify an improvement.
4. Case studies on cost basis issues.

Topic:  Divorce-Related Tax Issues in Retirement Plans

1. Overview of defined contribution plan and defined benefit plans.
2. QDRO requirements and how they work.
3. Distributions from retirement plans and how they are taxed.
4. Mandatory withholding requirements for retirement plans.
5. Individual Retirement Accounts and how they are taxed.
6. Medical Savings Accounts and how they are taxed.
7. Social Security Offsets and how they work.

Topic:  Divorce-Related Tax Issues of Spousal Support

1. History of spousal support taxation.
2. The benefits of proper planning.
3. Internal Revenue Code definition of spousal support.
4. Recapture of spousal support.
5. Benefits of declining maintenance.
6. Benefits of proper planning.

Topic:  Divorce-Related Tax Issues of Child Support

1. Child related contingency rules and how they work.
   • Reductions at a time associated with child related contingencies.
   • Six Month Rule.
   • Multiple Reduction Rule.
2. Dependency exemptions.
3. Childcare Credit.
4. Child Tax Credit.
   • Regular Child Tax Credit.
   • Additional Child Tax Credit.
5. Earned Income Credit.

Topic:  Divorce-Related Tax and Financial Planning Issues

1. Marital Status.
2. Allocation of Income and Deductions.
3. Income from Separate Property.
4. Community Income.
5. Income in Equitable Distribution States.
6. Allocating estimated tax payments.
7. Allocating tax carryforwards.
8. IRA contributions and spousal support.
9. Roth Conversions.
10. Retirement Savings Contribution Credit.
11. Bunching Deductions.
12. Innocent Spouse Rule.

Topic:  Analyzing the Personal Income Tax Return (Form 1040)
1.    Form 1040.
2.    Schedule A – Itemized Deductions.
3.    Schedule B – Interest and Ordinary Dividends.
4.    Schedule C – Profit or Loss from Business.
5.    Schedule D – Capital Gains and Losses.
6.    Schedule E – Rental Property, Partnerships, S-Corporations.

Register for the divorce and taxes course.

View Learning Objectives for Module Four.