Introduction to Tax Preparation Self-Study
This course outlines the basics of individual income tax reporting with a step-by-step analysis of Form 1040, U.S. Individual Income Tax Return, and its accompanying schedules. You will learn what schedules and forms you need to prepare based on the information provided by the client. At the end of this course, you will be prepared to complete basic income tax returns.
Upon completion of this course, you will be able to:
- Identify a taxpayer’s filing requirements and filing status
- Identify who is eligible to be claimed as a dependent
- Summarize different types of income and adjustments to income
- Compare itemized deductions and the standard deduction
- Distinguish between nonrefundable and refundable income tax credits
- Calculate an individual client’s federal income tax liability
- Prepare Form 1040
This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.