Course ID: TAXB11107 Bankruptcy Tax Guide
Course Reading: IRS Publication 908 Bankruptcy Tax Guide - Click on this link to access the course reading material or you can access it online once you purchase the course and enroll.

Supplementary  Readings: See the web links below
Level: Basic
NASBA Category: Taxation
Credit Hours: 3
Prerequisites: None
Advanced Prep: None
Exam: Bankruptcy Tax Guide Exam

The supplementary readings are website links.
US Court Discussion of Bankruptcy by Type 
Your Obligations under a Chapter 13 Plan   Find Law (Nolo 2006)
Chapter 7 and 13:  ( American Bar Association- Division for Public Education). It includes a brief discussion of what exempt assets are in Chapter 7 and how state homestead exemptions may be able to protect your home from creditors.

Learning Objectives:

• To gain an overall understanding of the tax obligations of a person filing a bankruptcy  petition as determined by the bankuptcy chapter he/she filed under.
• To understand what a bankruptcy estate is and the responsibilities of the trustee.
• To gain an understanding on debt cancelation (as well as exceptions and exclusions) and its impact on gross income for tax purposes.

  Course Description:
  This course covers the federal income tax aspects of bankruptcy as discussed in Publication 908. This course does not provide detailed discussions of the tax rules for more complex corporate bankruptcy reorganizations or other highly technical transactions. Please review the table of contents below. Supplementary suggested readings are also included however they are not required and are not included as part of the exam. (Some states require supplementary readings if the course materials are journals or publications.)The material can be downloaded above in .pdf format or you can go to the IRS site and download it in .html if you prefer. You can also print the exam here.

  Exam Information:
  Course price includes cost the on-line exam and study guide. Course materials are on-line - the links are above.. Grading is free. 
  
  

  
  A certificate is generated and emailed to you when you pass the exam with a grade of 70% or more. You can also go directly to the online exam website by typing in http://takeexams.cpaselfstudy.com
  (The paper version and on-line version of the exam have the same questions.)