Self-Study

Selected Issues in Preparation of 1040 Individual Income Tax Returns

  • Wednesday, May 1, 2024 – Wednesday, April 30, 2025

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  • 10.00
    CREDITS
    Taxes

This course provides new staff accountants, data processing employees, para-professionals, and bookkeepers a study into some of the more complicated issues they may face in tax return preparation. Updated for impacts of recent legislation, including the SECURE Act 2.0, the Inflation Reduction Act, CARES Act, Consolidated Appropriations Act of 2021 (CAA 2021), ARPA, TCJA, and SECURE Act.

Objectives

  • Have an overview of passive activity rules
  • Complete a comprehensive Form 1040 
  • Learn about IRA contributions and self-employed retirement plans
  • Complete a comprehensive problem related to computation of an individual’s federal income-tax liability, with filled-in forms

Highlights

  • Business income and expenses
  • IRAs, qualified retirement plans, and Social Security benefits
  • Depreciation and recapture
  • Rental income and expenses, income via Schedule K-1, and loss limitations
  • Alternative Minimum Tax
  • Casualty losses, moving expenses, sale of home, alimony, and penalties

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

10.00 Taxes

Prerequisite

None

Course Number

2432982

Level of Knowledge

Basic

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