1040 Line by Line: Deductions (Currently Unavailable)

Author: Arthur Joseph Werner

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

This course provides line-by-line coverage of Form 1040 deduction items.

This course is essential for the tax practitioner who wants to update their knowledge of individual income taxation.

This course will provide a comprehensive review of Form 1040 complexities with regard to deduction items. Updates for tax legislation passed in late 2013 and any additional changes that might occur in 2014 along with many important topics that impact clients in these difficult times will be discussed during the lecture.

Publication Date: January 2014

Designed For
CPAs and EAs

Topics Covered

  • Medical and Dental Expenses
  • State and Local Taxes
  • Real Estate Taxes
  • Personal Property Taxes
  • Other Taxes
  • Home Mortgage Interest
  • Points
  • Mortgage Insurance Premiums
  • Investment Interest
  • Cash Gifts to Charity
  • Non-Cash Gifts to Charity
  • Charitable Gift Carryovers
  • Miscellaneous Itemized Deductions Subject to 2% of AGI
  • Miscellaneous Itemized Deductions Not Subject to 2% of AGI
  • Standard Deduction
  • "Pease" Limitations

Learning Objectives

  • To recognize the update and instructions so that the participants will have the necessary knowledge to complete IRS Form 1040 for the 2014 tax season.
  • To identify the different deductions for the form 1040.

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
It is advised that the course "1040 Line by Line: Income" be taken also.

Advance Preparation
None

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