- NY Credits : 8.0
- TX Credits : 8.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 8.0
- IRS Non-Credentialed Return Preparer Credits : Federal Tax - 8.0
Individual Income Tax - Capital Gains, Pass-Through, and Other Income
Intended for the new tax preparer and those veterans wanting a tax update, this course will help you gain a better understanding of the various types of income and how they are to be reported on an individual income tax return. This course presents capital income, as well as income from pass-through entities, and various types of other income including alimony, Social Security, pensions and IRAs, fiduciary fees, prizes, and other windfalls. This is a hands-on approach to reporting such income correctly, including completion of Form 1040, Schedule D.
NOTE: This course has been updated for the Tax Cuts and Jobs Act.
Upon successful completion of this course, the user should be able to:
recognize capital assets and their tax treatment,
identify tax provisions related to personal use assets and the sale of a main home,
recognize tax provisions relating to retirement, pension, and annuity income, and
identify key tax components of unearned income such as alimony and recovery of prior year itemized deductions.