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:

You will receive an email from info@surgent.com with instructions on how to log onto your course shortly.  If you do not receive the email within the hour, please check your spam filter.

For technical support, registration questions or other customer service-related inquiries, please call (800) 778-7436 or email info@surgent.com. 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.