Form 1098 and Your Taxes – Maximizing Deductions and Ensuring Compliance

Adam S. Fayne
Recording Webinar Available @All Days
Recorded Webinar
  

Description

This in-depth webinar is a must-attend session for professionals looking to gain a thorough understanding of Form 1098 and its various versions, each of which plays a pivotal role in tax reporting and deductions for individuals and businesses. Form 1098 is essential for documenting key tax-deductible expenses like mortgage interest, student loan interest, and charitable contributions, but properly navigating its nuances can be complex. In this session, you'll gain the knowledge needed to effectively handle Form 1098 and ensure your clients maximize their deductions while staying fully compliant with IRS regulations.

The webinar will take a detailed look at the different types of Form 1098 — including Form 1098, 1098-E, 1098-T, and 1098-C — providing a comprehensive breakdown of the information each form reports, the deductions they relate to, and how to handle them accurately. Whether you're working with individual taxpayers, small business owners, or nonprofits, this session will give you the tools to make sure that no deduction is left on the table and that every form is filed correctly.

What You Will Learn:

  • Understand the different types of Form 1098 (1098, 1098-E, 1098-T, and 1098-C) and the information each provides
  • Identify how mortgage interest, student loan interest, and tuition payments affect tax deductions
  • Accurately report mortgage interest deductions and ensure proper use of Form 1098
  • Navigate student loan interest deductions and requirements for Form 1098-E
  • Learn to handle qualified education expenses with Form 1098-T and how these affect credits like the American Opportunity and Lifetime Learning credits
  • Understand the reporting of charitable contributions with Form 1098-C and its impact on deductions for donated property
  • Ensure compliance with IRS rules on record-keeping and filing deadlines for Form 1098 information
  • Address common taxpayer questions and misconceptions related to mortgage and loan interest deductions

By the end of this session, you'll have a thorough understanding of how to work with Form 1098, handle tax deductions for mortgage interest, student loan interest, educational expenses, and charitable contributions, and ensure full compliance with IRS rules. You’ll also be able to provide clear, informed advice to your clients, helping them navigate these tax issues while maximizing their potential refunds.

Who Should Attend:

  • Tax professionals, including CPAs, Enrolled Agents, and tax preparers
  • Financial advisors looking to expand their knowledge on tax reporting and deductions
  • Accountants working with individuals, businesses, or nonprofits who need to understand tax-deductible expenses related to mortgages, student loans, education, and charitable giving

Training Options

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Recording
   $229  

Transcript (Pdf)
   $229  

DVD
   $249  

Recording & DVD
   $389  

Recording & Transcript (Pdf)
   $379  

DVD & Transcript (Pdf)
   $389  

Unlimited Access
   $1499  

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