20SS-0246: Surgent's Individual Income Tax School (Self-Study)

Valid for one year from purchase date
Self-study - Downloadable PDF
16 CPE (16 technical)  |  16 IRS CE

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.

Major subjects

• 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

Learning objective(s)

• 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.

Who should take this program?

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

Fees

Standard Member Fee	$225.00
Standard Nonmember Fee	$225.00