- NY Credits : 9.0
- TX Credits : 9.0
- CTEC Credits : Federal Tax Law Update - 9.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 9.0
- IRS Non-Credentialed Return Preparer Credits : Federal Tax Update - 9.0
1040 Income Tax Preparation
This interactive self-study course covers issues related to filing status, exemptions, income and adjustments, medical expenses, deductible taxes, interest expense, personal credits, and tax payments. Note: This course has been updated for the 2017 retroactive provisions of the Tax Cuts and Job Act of 2017.
Course Expiration Date: December 31, 2018
Determine the appropriate filing status.
Determine allowable personal exemptions.
Determine the taxability of social security benefits.
Apply the rules relating to distributions from traditional and Roth IRAs.
Apply the rules covering education savings accounts and health savings accounts.
Explain the tax treatment of certain other income items.
Apply the rules relating to contributions to various types of IRAs.
Identify and determine other adjustments to income.
Determine the standard deduction applicable to each filing status.
Identify deductible medical expenses.
Identify and substantiate charitable contributions.
Identify the proper classification of interest expense.
Identify other allowable itemized deductions and apply limits as required.
Determine eligibility and deductibility of various personal credits available to individuals.
Identify when the penalty for underpayment of estimated tax applies.
Wages and Salaries
Interest and Dividend Income
Pension and Retirement Income
Other Items of Income
Adjustments to Income
Other Itemized Deductions