When Form 8865 Dispositions 2024

Music, good morning, everyone! Welcome to today's class, which is called "Reporting Capital Gains and Losses." I've just got the student manual up on the screen in front of you, and we are going to begin on page 2 of the manual with the introduction. Capital gains are a very important topic for tax preparers to understand. However, a lot of the time, the rules on capital gains can be rather mystifying to tax preparers. I frequently talk about the Oregon consultant and preparer exams because we're the only state that has them. There is some relevant information that I can always reflect back to them. One of the interesting things about the Oregon LPC exam is the absolute weight it gives to the topic of capital gains and losses. Fully 40 percent of part two of the exam is devoted to capital gains and losses because they really want you to understand this topic. Way back in the mid-90s when I was studying to take the LTC exam, I had to bone up on and really understand capital gains and losses. I spent a good amount of time studying and starting to understand these topics. For me, at that point, a light came on, and I went from the foggy, hazy world of understanding a little bit about tax law to really grasping the concepts. By the end of today's class, I hope that many things will be much clearer to you. If you're still confused, I recommend spending some time working through the various classwork assignments, homework assignments, and quiz questions that we provide with this course. These are the types of things that will help deepen your understanding and require more intense study. There is also a reading assignment for today's course, and the topics covered come from Pub 17. However, a...