CPE: 8 hours
Prerequisites: Two or more years experience preparing Form 1040.
Advanced prep: None
Who should attend: CPAs with experience preparing Form 1040s who want to become experts.
For many practitioners and clients, tax simplification is only a dream for many . This program is designed for the CPA who is ready to handle the most complex individual income tax preparation problems, including tax-deferred exchanges, passive losses, AMT and carryback benefits.
- Identidy and solve complex 1040 problems.
- Determine proper presentation strategies.
- Identify appropriate disclosures to avoid penalties.
- Determine and create opportunities for tax reduction.
- New tax legislation
- Passive losses: tracking and triggering
- Limited losses from lack of at-risk basis
- Calculation of NOLs for regular tax and AMT
- Computing carryback benefits
- Alternative Minimum Tax
- Minimum tax credit
- Net investment income tax
- Tax-deferred exchanges
- At-risk rules