Recognize when the like-kind exchange rules apply to a transaction
Recall the rules applying to involuntary conversions
Recall rules regarding the rollover of gains on nonpublic C corporation stock to an Employee Stock Option Plan (ESOP)
Determine the proper tax treatment for transfers of property between spouses incident to a divorce
Determine whether the gains relating to the sale of a principal residence are taxable
Identify the various types of retirement plans available to self-employed individuals
Calculate the contributions allowed to self-employed retirement plans
Calculate allowable IRA contributions
Identify the exemptions for penalties for early withdrawals from IRAs
Calculate the following: self-employment tax, alternative minimum tax, net operating losses, net operating loss, carrybacks and carryforwards
Calculate the following: adoption credit, earned income credit, saver’s credit, residential energy credit
Key Topics
Summary of major individual tax developments
Gross Income: compensation issues and nontaxable employee fringe benefits
Fringe benefits, retirement plan distributions, earned income exclusion
Business and Rental Transactions: hobby losses and passive losses
Depreciation and Amortization
Property Transactions Gains and Losses
Property Transactions: Capital vs. Ordinary income
Property Transactions: Nonrecognition Provisions
Adjustments to Income: Self-employed retirement plans and IRAs
Tax Computations
Tax Credits
Who will it benefit?
CPAs working with clients or employers requiring up-to-date expertise in individual income taxation for the current tax season
$ 249.00
AICPA Member Price: $ 199.00
Course is unavailable for purchase.
NASBA Field of Study
Taxes
Level
Intermediate
CPE Credits
15.0
Prerequisites
None
Delivery Method
QAS Self-Study
Advance Preparation
None
Last Updated
01/04/2022
TSEIIT_16A-N_2
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