Divorce Transfers and Settlements

Course Information

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Title: Divorce Transfers and Settlements
Category: Taxation
Field of Study: Taxes
Course Code: M045
CPE Credits: 2.0
Price: 19.95



Participants will learn how to apply, implement, and evaluate the strategic tax aspects of marital dissolutions and living together arrangements. Current perspectives on property transfers and asset divisions are examined with an emphasis on planning considerations. This mini-course reviews property settlements and other transfers incident to divorce. Basis allocation, third party transfers and purchases between spouses are also examined. Common pitfalls for the unwary such as transfers in trust, installment notes, and purchases between spouses are analyzed. Application of these tax principles is exampled in selected asset divisions of the residence, business interests, insurance, and pension benefits.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

Course Details

Category: Taxation

Field of Study: Taxes

Passing Score: 70%

Technical Details: Taxation is a technical field of study for all states.

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1. Identify the various forms of marital property and how to proceed with a tax structured property settlement stating the benefits of premarital agreements to avoid potential divorce problems. 2. Recognize property settlements under Section 1041 by: a. Identifying its application to inter-spousal and third party transfers, b. Specifying the factors that determine whether or not a property transfer is incident to divorce under Section 1041, c. Determining property basis for the transferor and transferee spouse under Section 1041. 3. Identify remedies for the deferred tax pitfall of Section 1041 by: a. Determining the deferred tax liability of inter-spousal purchases, b. Recognizing the tax deferral of Section 1031 exchanges, c. Specifying the key elements of the home sale exclusion and stating their application; d. Recognizing benefit distribution problems and the tax advantages of QDROs.

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QAS: Yes

CPA: Suitable for all CPAs

IRS: IRS credit for Enrolled Agents.

Profession Identifiers: CPA, EA