CPE Self-Study

1040 Tax Return Workshop and Video Course

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Get your tax return training from the industry's best!

The AICPA's individual tax workshop provides the latest practical insights from nationally recognized tax experts. Reinforce your understanding of frequently used principles, and receive a wealth of tax-planning tips and strategies. Learn how to apply the latest changes when preparing federal income tax returns, and advise clients on new developments and taxsaving ideas for individuals. All key tax return issues are covered, including The Tax Cuts and Jobs Act of 2017 and the Budget Deal of 2018. Make sure you are armed with the latest tax reform and legislative guidance to better serve your clients in the constantly changing landscape of Individual Income Taxation.

Learning Objectives

  • Recall the filing requirements for individual taxpayers.
  • Determine the filing status of individual taxpayers.
  • Recognize who can be claimed as a dependent by a taxpayer.
  • Calculate the personal exemption allowable on a return.
  • Identify which dividends are taxable.
  • Calculate the correct tax rate for dividend income.
  • Determine whether various interest income is taxable.
  • Recall how to account for IRA and qualified plan distributions.
  • Recall rules pertaining to IRA rollovers.
  • Identify when Social Security benefits become taxable.
  • Determine the amounts allowable for deducting travel and transportation expenses, meal expenses, and entertainment expenses.
  • Identify deductible student loan interest.
  • Recognize what qualifies for the higher education tuition deduction.
  • Recognize and apply rules related to health savings accounts.
  • Calculate the moving expense deduction.
  • Calculate the self-employed health insurance deduction.
  • Identify deductible alimony payments.
  • Determine the deduction for domestic production activities.
  • Determine when a taxpayer is required to use the standard deduction or may itemize deductions.
  • Calculate the reduction of itemized deductions for high income taxpayers.
  • Calculate the deduction for investment expenses.
  • Calculate the deduction for employee business expenses.
  • Determine the correct treatment for miscellaneous itemized deductions.
  • Determine the correct amount of the child tax credit.
  • Determine when a taxpayer is eligible for the child and dependent care credit.
  • Identify 2017's key inflation-indexed figures.
  • Determine the proper reporting of tip income, employee stock options, nonqualified deferred comensation, fringe benefits.
  • Identify the characteristics of a hobby loss.
  • Determine whether an activity is a passive activity.
  • Recognize the tax implications of having rental real estate classified as an active or passive activity.
  • Recognize how material participation impacts the taxation of an activity.
  • Determine the proper tax treatment upon the disposal of a passive activity.
  • Determine the proper tax treatment for fringe benefits, retirement plan distributions, and foreign earned income.
  • Identify the rules for depreciation and amortization deductions.
  • Calculate gains and losses from property transactions.
  • Identify applicable tax rate on gains from property transactions.
  • Determine the proper tax treatment for losses on stock sales.
  • Distinguish between different recapture provisions.
  • Determine when IRC Section 1244 applies to a transaction.
  • Differentiate between stock traders and investors.
  • Recognize when the provisions under IRC Section 1202 apply to a transaction.
  • Recognize when the like-kind exchange rules apply to a transaction.
  • Recall the rules applying to involuntary conversions.
  • Recall rules regarding the rollover of gains on nonpublic C corporation stock to an employee stock option plan.
  • Determine the proper tax treatment for transfers of property between spouses who are divorcing.
  • Determine whether the gains relating to the sale of a principal residence are taxable.
  • Identify the various types of retirement plans available to self-employed individuals.
  • Calculate the contributions allowed to self-employed retirement plans
  • Calculate allowable IRA contributions.
  • Identify the exemptions for penalties for early withdrawals from IRAs.

Key Topics

  • New Tax Developments
  • The Tax Cuts and Jobs Act of 2017
  • Health Insurance tax credit, other tax credits
  • Dividends, interest, and planning opportunities
  • Compensation issues, deferred plans, fringe benefits
  • Distributions from IRA's and other qualified plans
  • Gross income exclusions
  • Passive losses
  • Vacation homes, home offices, bad debts
  • Travel and entertainment
  • Depreciation and Amortization
  • Gain and loss recognition and basis rules
  • Property transactions - capital gain vs ordinary income
  • Self-employed health insurance, alimony, and other adjustments to income
  • Itemized Deductions
  • Tax computations and tax credits

Who Will Benefit

  • CPAs working with clients or employers requiring up-to-date expertise in individual income taxation for the current tax season.


PFP and Tax Section Members qualify for an additional 10% discount!

When you log into this website with your AICPA member user account, the section/credential discount will be automatically applied during checkout. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or service@aicpa.org

System Requirements

About the Authors

Wendy E. Kravit, CPA

Wendy Kravit, CPA, MBA started her career working for the Internal Revenue Service as a Revenue Agent. After spending a few years with the government, she left the Service and joined the faculty of Northern Illinois University where she taught federal taxation in both the undergraduate and graduate programs. She also operated a sole proprietorship in Northern Illinois where she specialized in tax and representation before the IRS. She sold her practice in Illinois and moved to Maryland in 2004 where she continues to teach and consult.

Ms. Kravit had been an active member of the Illinois CPA Society where she served on the Tax Executive Committee for many years. She was a steady member of the task force and occasionally the Chairman for the Annual Illinois CPA Society Federal Tax Conference. She has reviewed textbooks for publishers and she has written tax articles for various publications including the Tax Advisor.

Currently, Ms. Kravit is a former member of the AICPA's IRS Practice and Procedures Committee. Wendy is author of several continuing education tax courses for the AICPA.

About the Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.