Course ID: STCR

Streamlined Tax Staff Training – Complex Return Issues

The computer can do the calculations, but some analysis and exercise of trained judgment is required as well. This fast-paced program offers “next step” training for accountants who are ready to tackle complex individual tax return issues. It is entirely focused on problem solving and application of the tax law’s complex reporting requirements. Program materials include valuable check lists and quick reference guides to enhance efficiency and save valuable time.


LEARNING OBJECTIVES
  • Solve tax basis problems with mutual fund redemptions and sales
  • Calculate and report AMT adjustments and preferences
  • Compute an individual NOL and related carryback claim
  • Identify and report tax matters associated with divorce and dependent children
  • Claim “Real Estate Professional” status and make election to aggregate rental activities
  • Report and claim investment interest
  • Properly classify “passive activities”
  • Take full advantage of Schedule C deductions

MAJOR TOPICS
  • Self-employment issues: retirement plan contributions, health insurance, self-rental
  • Passive loss issues
  • Calculation of individual NOL
  • AMT carryforwards, carrybacks, and AMT credit
  • Alimony, child support, property settlements
  • 1031 exchanges
  • Contribution of tangible property

DESIGNED FOR
Accountants who will be working on individual income tax returns that involve common reporting complexities. May also be suitable for public practice.

FIELD OF STUDY
Taxes

PREREQUISITES
None

COURSE PRODUCER
Loscalzo Associates

CPE CREDITS
8.0

LEVEL
Advanced
 

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