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8.0 Credits

The objective of this course is to train new staff accountants, data processing employees, para-professionals, and bookkeepers to prepare a complicated federal individual income tax return. Over the years, thousands of new staff have received practical, hands-on experience to become familiar with tax forms. This course covers the latest tax law changes, making it essential for your new staff. Updated for impacts of newly enacted legislation.


 Learn complicated issues of filing status and dependency exemptions  Learn about Schedules A, B, C, D, E, and SE; Forms 2106, 4797, and 4562; passive rules and more  Complete comprehensive problems related to Schedules A, C, and D; Forms 2106, 4797, 6251, and more, all with "filled-in" forms  Learn about IRA contributions, self-employed retirement plans, child-care credits, and the adoption tax credit

Major Topics

 Preparation of various Form 1040 individual tax returns and schedules; provided answers include "filled-in" forms  Due diligence requirements for the Child Credit and American Opportunity Credit  Tax filing status - Rules for filing status and planning opportunities and pitfalls  Dividends and interest - Ordinary, return of capital, and capital gain distribution dividends; tax-exempt interest, original issue discount, etc.  Security transactions - From Form 1099-B to Form 8949 to Schedule D, plus mutual fund sales and related basis issues  Self-employed person issues  Schedule C deductions including depreciation  Sale and exchange of property - Understanding Form 4797 and depreciation recapture; capital gains  A working understanding of passive losses - How to handle rental property and how the passive loss rules flow to the tax forms  Itemized deductions - A thorough understanding of what's deductible and what's not  Interest deductions - Limitations and timing problems  Retirement contributions and education credits and deductions  Tax computation - The Kiddie Tax, AMT, regular tax, tax credits  Individual problems illustrating form preparation for various items, with numerous "practice tips"  Impact of recent legislation and forms changes on the 1040

Designed For

New staff and para-professionals who prepare individual returns


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Materials Option

How would you like to receive your course materials?:

Your registration fee includes an electronic copy of the course manual. Your eMaterials will be available for download in the "My CPE" area of the website one week before the program date. Please note: Program cancellations will not be allowed once you have downloaded your eMaterials from the website. Copyright note: Reproduction or distribution of the manual or any portion of it is prohibited unless written permission is obtained from the course provider.

We will print a manual and provide it to you at registration the morning of the program.

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