Webinar: Federal Tax Treatment of Investment Income

Determining the Source of Income (Puerto Rico, US). Tax treatment of interest, dividends, capital gain distributions, and capital gains and losses. Determining basis and adjusted basis. Distributions of qualified retirement plans for bona fide residents of Puerto Rico. Reporting forms 1099-Int, 1099-Div, 1099-B, and 1099-S. Revenue Procedures 2004-37. Form 8949 to report capital gains and losses. Back up withholding. Net investment Income Tax, Sale of Principal Residence. Report of Foreign Bank and Financial Accounts (FBAR) and Form 8938 (Specified Foreign Financial Assets). Virtual currency transactions. 

Objectives: Upon completion of this course participants should be able to:

1. Determine source of investment income (Puerto Rico, US).
2. Identify where and how to report investment income on form 1040US.
3. Mention when to report distributions of qualified retirement plans for bona fide residents of Puerto Rico. 
4. Determine who must file FBAR reports and Form 8938.
5. Determine tax treatment of virtual currency transactions.

"Instructional Delivery Method": Programa de grupo por internet: webinar en vivo.

CPE Credits: 4

P.R. Field of Study: Taxes

"NASBA Field of Study": Taxes 

Pre-requisite: Basic level course on Federal Income Tax or equivalent.

Advance Preparation: None

Level: Intermediate

Date: March 4, 2024

Registration: 8:45am - 9:00am                  Webinar: 9:00am - 1:00pm

Instructors: 

• Gloria I. Gelabert, Enrolled Agent, Internal Revenue Service
• Marisa Díaz Méndez, CPA, Sole Practitioner

Place: The webinar will be broadcasted via Zoom.

Materials: This course will be paperless and the materials will be distributed electronically. Download them through "Mi Perfil → Registros de Eventos → Selecciona Evento → Tab Materiales", on the Colegio's website. After the date of the event download them through "Mi Perfil → Registros de Eventos → Registros Corrientes → Historial → Selecciona Evento → Tab Materiales". Electronic devices may be brought to the classroom to access the downloaded materials. We reserve the right to admission.

Electronic evaluation: Once you have registered your entry to this educational activity, you can quickly and easily access and complete the evaluation through "Mi Perfil". On our website "Home" page you will find detailed instructions for completing the form.

Notice: The Colegio de CPA reserves the right to substitute instructors and suspend a course due to insufficient enrollment or other causes beyond our control. We reserve the right to refuse admission. Space is limited. Registration is subject to the available slots. The tuition price for CPA applies to those who at the time of registration do not owe debts to the Colegio.

INFORMACIÓN IMPORTANTE

I. Conectarse a la transmisión:

a. Enlace

En este seminario se utilizará la aplicación de Zoom. Luego de registrarse, encontrará en “Mi Perfil - Registros de Eventos - Selecciona Evento” botón “Entrar a Zoom” para poder acceder al curso.

b. Otras

El Colegio de CPA no será responsable por los problemas técnicos que el participante pueda confrontar en el uso de su equipo o de su conexión de internet durante la transmisión de este seminario virtual.

II. Horario

Permanecer atento a la conferencia desde su comienzo hasta el final, tomando un receso cuando así lo indique el instructor y regresar puntualmente de éste.

III. Preguntas y respuestas

Enviar sus preguntas o dudas durante el seminario a través de este sistema por la pestaña llamada “Q & A”.

Las preguntas recibidas se contestarán durante el seminario.

IV. Validación de asistencia de acumulación de horas-crédito:

Para poder acumular las horas-crédito correspondientes a este seminario necesita estar atento y presionar de inmediato cada "pop up" que aparecerá en pantalla de manera aleatoria a través de toda la transmisión, asegurándose de responder un mínimo de 75% de éstos.