Advanced Technical Tax Forms Training: Form 1040 Issues

Code: ATFI

Space is available, but online registration has closed. Please call 952-831-2707 to register.

Date Monday, November 20, 2017
Time 8:30am - 4:30pm
Central Time
Location Minnesota Society of CPAs
1650 W 82nd St Ste 600
Bloomington, MN 55431-1458
Map & directions
 
CPE credits CPE 8.0
Instructor Steven Wagner, CPA
Froehling Anderson
Fees
Standard member fee $325.00
checkmarkStandard nonmember fee $375.00

Members: Please log in to receive member fee.

Description

Even experienced CPAs get bogged down during busy season with tough tax returns that have multiple K-1s, AMT, at-risk basis and passive activity loss issues. Make sure you understand these topics in depth so you can successfully handle complex Form 1040 issues and avoid costly, time-consuming mistakes. Explore advanced case studies and come away with completed sample forms to refer to during tax season. Includes coverage of recent developments related to tax reform.

Who should take this program?

CPAs in public accounting who prepare or review complex Form 1040 returns

Major subjects

  • Depreciation -- what's new and what doesn't show up on depreciation schedules anymore
  • Form 8960 -- how to calculate and mitigate the net investment income tax (NIIT)
  • Form 6198 -- at-risk basis and detailed case study of the form
  • Basis vs. at-risk basis, and why it matters
  • Passive activities -- how to dig deep to avoid NIIT
  • How to protect yourself from identity theft and avoid preparer- and accuracy-related penalties
  • Form 2848 power of attorney issues
  • Form 982 -- reduction of tax attributes due to discharge of indebtedness and Sec. 1082 basis adjustment
  • Form 6252 -- installment sale income and gain on reacquisition of installment sale property
  • Worksheets for calculating gain and tax basis of reacquired property
  • Form 5329 additional taxes on qualified plans -- how to avoid penalties associated with distributions from retirement plans
  • Form 6251 -- adjustments and preferences associated with AMT
  • Proper treatment of incentive stock options
  • Complex K-1 issues such as hedge funds and when hidden taxable income can arise

Learning objective(s)

  • Understand how to complete tax forms and handle advanced technical issues related to individual tax returns

Notes:

Course code Code ATFI
Sponsor MNCPA
NASBA ID#: 139884
Level Advanced
Field(s)
of study
Taxes - Technical (8.0)
Format Group Live
Prerequisites Prereq. Basic- to intermediate-level experience in preparing Form 1040 recommended.
Advance
prep
None