Surgent's Individual Income Tax Fundamentals

Objectives:

• 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

Major Topics:

• Effects of recent legislation, including the recently enacted Inflation Reduction Act and the SECURE Act 2.0 
• 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 – 3 
• 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 

Designed For:

Prerequisite:

Additional Info:

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For technical support, registration questions or other customer service-related inquiries, please call (800) 778-7436 or email [email protected]. Phones are staffed from 8:30 a.m. to 5:00 p.m. Eastern Time, Monday through Thursday, and 8:30 a.m. to 4:00 p.m. Eastern Time on Friday.