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Preparing Individual Tax Returns for New Staff and Para-Professionals (PITR)

Tuesday, January 31, 2017
09:00 AM - 05:00 PM (Eastern)

Dennis Benvie, MS, CPA

  • Format Webinar
  • Credits 8
  • Level Basic
  • Field of Study Taxes (8)


The objective of this course is to train new staff accountants, data processing employees, para-professionals, and bookkeepers to prepare a complicated federal individual income tax return. Over the years, thousands of new staff have received practical, hands-on experience to become familiar with tax forms. This course covers the latest tax law changes, making it essential for your new staff. Updated for impacts of the Protecting Americans Against Tax Hikes (PATH) Act of 2015.

Major Topics:

  • Preparation of various Form 1040 individual tax returns and schedules; provided answers include “filled-in” forms
  • Tax filing status – Rules for filing status and planning opportunities and pitfalls
  • Dividends and interest – Ordinary, return of capital, and capital gain distribution dividends; tax-exempt interest, original issue discount, etc.
  • Security transactions – From Form 1099-B to Form 8949 to Schedule D, plus mutual fund sales and related basis issues 
  • How the Affordable Care Act affects tax returns
  • Self-employed person issues
  • Sale and exchange of property – Understanding Form 4797 and depreciation recapture; capital gains
  • Schedule C deductions
  • A working understanding of passive losses – How to handle rental property and how the passive loss rules flow to the tax forms
  • Itemized deductions – A thorough understanding of what’s deductible and what’s not
  • Interest deductions – Limitations and timing problems
  • Retirement contributions and education credits and deductions
  • Tax computation – The Kiddie tax, AMT, regular tax, tax credits
  • Individual problems illustrating form preparation for various items
  • Impact of recent legislation and forms changes on the 1040 

Learning Objectives

  • Learn complicated issues of filing status and dependency exemptions
  • Learn about taxable/tax-exempt interest issues and dividend income
  • Understand issues with reporting capital gains transactions
  • Complete a comprehensive problem related to Schedule C of the Form 1040 and also one related to Form 4797
  • Overview of passive activity rules
  • Complete a comprehensive problem related to Schedule A
  • Learn about IRA contributions, Self-employed retirement plans, child-care credits, and the adoption tax credit
  • Complete a comprehensive problem related to computation of an individual’s federal income-tax liability

Who should take this course:

New staff and para-professionals who prepare individual returns








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