20SS-0245: Surgent's Selected Issues in Preparation of 1040 Individual Income Tax Returns (Self-Study)

Valid for one year from purchase date
Self-study - Downloadable PDF
10 CPE (10 technical)  |  10 IRS CE

This course provides new staff accountants, data processing employees, Paraprofessionals, and bookkeepers a study into some of the more complicated issues they may face in tax return preparation. Updated for impacts of the Tax Cuts and Jobs Act of 2017.

Major subjects

• Preparation of various Form 1040 individual tax returns and schedules; provided answers include 'filled-in' forms
• How the Affordable Care Act affects tax returns
• Self-employed person issues including Schedule C deductions and detailed case
• Depreciation deductions including Section 179, bonus depreciation and MACRS deductions
• Sale of depreciable assets used in a trade or business
• How to handle rental property and how the passive loss rules flow to the tax forms
• IRA contributions and distributions
• Distributions from qualified retirement plans, pensions, and annuities
• Retirement contributions and education credits and deductions
• Tax computations including the Alternative Minimum Tax
• Individual problems illustrating form preparation for various items
• Impact of recent legislation and forms changes on the 1040

Learning objective(s)

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

Who should take this program?

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

Fees

Standard Member Fee	$150.00
Standard Nonmember Fee	$150.00