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Individual Tax Part One – Total Income

COURSE OUTLINE

In this course, participants will learn what is included in the calculation of total income.  The course includes discussions on the following topics:

  • Wages, salaries and tips
  • Interest
  • Dividends
  • Pensions including IRA’s and social security benefits
  • Capital gains and losses
  • State tax refunds
  • Alimony
  • Business and farming
  • Partnerships and other flow through entities
  • Other miscellaneous income included on Schedule 1

LEARNING OBJECTIVES

By the end of this course, Individual Tax Part One – Total Income, participants will be able to:

  • Recognize the types of incomes that are classified as wages
  • Properly report income from retirement plans including IRA’s, pension and annuities and Social Security benefits
  • Understand incomes that must be included on separate schedules including Schedule B, Schedule C, Schedule D, Schedule E and Schedule F
  • Know which incomes are reported on Schedule 1
  • Identify the types of other income that must be reflected on Schedule 1, Line 8
  • Calculate total income reported on the Form 1040.

Course Guidelines

  • The self-study format allows you to access the material online 24/7 and study at your own pace
  • All Self-Study courses are to be completed, and the final exam submitted, within 1 year from the date of purchase as shown on your invoice. No extensions will be allowed.
  • To obtain CE credit, the participant must obtain a passing score of at least 70%.  Test takers will not be provided feedback on incorrect answers
  • Complete your final exam at any time and get graded instantly. You can retake the exam up to three times at no additional charge.
  • Upon passing the exam, you will be able to print your own certificate of completion.

Disclaimer

This course material deals with complex matters and may not apply to particular facts and circumstances.  As well, the material contained reflects laws and practices which are subject to change.  For these reasons, the course material should not be relied upon as a substitute for specialized professional advice