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Individual Tax Part Two – Adjusted Gross Income

This course covers the Adjusted Gross Income (AGI) section of the tax return. Taxpayers are allowed to deduct certain expenses, payments, contributions, fees, etc. from their total income. These adjustments which are subtracted from total income on Form 1040 establish the taxpayer’s Adjusted Gross Income.

LESSON OBJECTIVE

In this course, Individual Taxation  Part II, Adjusted Gross Income participants will learn how to

  • Identify and work with various adjustments to income
  • Understand why the concept of adjusted gross income is important
  • Know which employee expenses qualify as adjustments to income
  • Understand the deduction for self employed health insurance
  • Know when alimony is deductible
  • Identify which expenses qualify as a moving expense and when they are deductible
  • Calculate the allowable traditional IRA deduction
  • Calculate the allowable student loan interest deduction
  • Discuss various other deductions that are available to arrive at adjusted gross income

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