Preparing C Corporation Returns Self-Study

Summary

This course is ideal for tax professionals who have never prepared Form 1120, U.S. Corporation Income Tax Return, or for those with limited experience. The course covers information regarding how to incorporate a domestic C corporation all the way through completing a basic Form 1120. It goes into line-by-line instructions on how to prepare Form 1120 along with explanations of the various types of income and expenses reported on the return. Lastly, there is a discussion on the tax treatment of various types of distributions from the C corporation to the shareholders.

Objectives

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

• Summarize the advantages and disadvantages of forming a C corporation
• Determine if §351 applies at incorporation
• Select a tax year and accounting method
• Differentiate between taxable and non-taxable income, and deductible and non-deductible expenses
• Explain C corporation taxation
• Summarize the taxation of distributions
• Prepare a basic Form 1120

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.