Preparing a Client's Final 1040 Self-Study

Summary

Only two things are certain in life: death and taxes. Be prepared to assist your taxpayers’ families with tax filing after death for the income earned prior to passing away. This course explains the basic rules for preparing a decedent’s final personal income tax return. Examples illustrating these rules when preparing the final Form 1040 are presented throughout the text.

Objectives

Upon completion of this course, you will be able to:

• Identify forms and documents needed to prepare a final personal tax return
• Accurately report on the final Form 1040 the portion of interest, dividend, capital gain and miscellaneous income earned through the date of death
• Utilize a decedent’s net operating loss (NOL), capital loss carryovers, passive losses and other tax attributes on the final Form 1040 to minimize tax
• Correctly complete a decedent’s final Form 1040

Course Details

This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.