Self-Study

Surgent's Individual Income Tax School (SITS)

  • Wednesday, May 1, 2019 – Thursday, April 30, 2020

  • 16
    CREDITS
    Taxes

This course will take new and administrative staff from the most basic concepts to a full understanding of individual tax return preparation -- just in time for the crunch of busy season! Updated for impacts of the Tax Cuts and Jobs Act of 2017. The course builds from a strong technical foundation, to prepare simple, to moderate, to complicated individual tax returns.

Objectives

  • Prepare simple, to moderate, to complicated individual tax returns
  • Learn complicated issues of filing status and dependency exemptions
  • Understand issues with reporting capital gains transactions
  • Complete targeted comprehensive problems related to Schedule A, Schedule C, Schedule D, Form 4797 and Alternative Minimum Tax
  • Overview of passive activity rules
  • Complete several tax returns; many schedules and worksheets, answers with filled-in forms are provided.

Highlights

  • Effects of recent legislation, including the Qualified Business Income deduction
  • Filing information, filing status, personal exemptions, dependents, the standard deduction, etc.
  • Wages and salaries
  • Interest income, dividend income, mutual funds, Social Security
  • Figuring tax
  • Basic income tax preparation, Form 1040 and Schedules 1 – 6
  • Capital gains and losses
  • Medical and dental expenses, charitable contributions
  • IRA contributions and distributions
  • Distributions from qualified retirement plans, pensions, and annuities
  • Profit and loss from business or profession and self-employment tax
  • Depreciation
  • Rental income and expenses
  • Preparation of Schedules A, B, C, D, E, and Forms 4562, 4797, and more

Additional Information

Designed For

New staff, rusty or those returning to the profession, who desire to prepare individual returns

Vendor

Surgent

Advanced Preparation

None

Credits

16.00 Taxes

Prerequisite

None

Course Number

1925529

Level of Knowledge

Basic

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