- NY Credits : 8.0
- TX Credits : 8.0
- CTEC Credits : Federal Tax Law - 8.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 8.0
- IRS Non-Credentialed Return Preparer Credits : Federal Tax - 8.0
This interactive self-study course covers selected tax calculations and tax credits that affect Form 1040. Lesson 1 discusses the tax on lump-sum distributions. Lesson 2 covers excise taxes and other additional taxes, including the net investment income tax (NIIT). Lesson 3 discusses personal credits, such as the child dependent care credit and the earned income credit. Finally, Lesson 4 takes a look at the foreign tax credit.
Course Expiration Date: November 30, 2019
Please note, the grading fee for answer sheets submitted by regular mail is $105.
Identify what qualifies as a lump-sum distribution, the general rules for distributing employer securities, and how to roll over a lump-sum distribution.
Recognize the best methods for dealing with excess contribution, early distribution, and excise taxes.
Determine how to address certain other taxes, such as the net investment income tax (NIIT), the Medicare tax on earned income, and the requirement to maintain essential health insurance coverage.
Identify the effects of the child and dependent care credit, the adoption credit and income exclusion, the child tax credits, and the American opportunity and lifetime learning credits on Form 1040.
Determine how the retirement savings contributions credit, the earned income credit, the residential energy efficient property and nonbusiness energy property credits, and the healthcare premium tax credit affect Form 1040.
Lesson 1—Tax on Lump-sum Distributions
Lesson 2—Excise and Other Taxes
Lesson 3—Personal Credits
Lesson 4—Foreign Tax Credit