Kaplan University School of Professional and Continuing Education Kaplan University School of Professional and Continuing Education

Preparing Complex 1040s (PCR)

(Updated for the Tax Cuts and Jobs Act) 8-Hour Program

WHY ATTEND THIS COURSE?

For many clients, tax simplification is only an empty promise from politicians. This program is designed for the accountant who is ready to handle the most complex individual client’s income tax preparation. The program has been updated to include changes made by the Tax Cuts and Jobs Act, with a full section on the complexities of the qualified business income deduction.

DESIGNED FOR...

Practitioners with experience preparing 1040s. May also be suitable for public practice.

OBJECTIVE

Participants will be able to:

  • Solve complex 1040 problems
  • Design proper presentation strategies
  • Use appropriate disclosures to avoid penalties
  • Anticipate and create opportunities for tax reduction

MAJOR SUBJECTS

  • Tax Cuts and Jobs Act changes and any additional tax legislation
  • Qualified business income deduction: who it applies to, how to deal with the limitations and planning opportunities
  • Passive losses: tracking, triggering, and grouping activities in order to reduce passive income
  • Losses limited by lack of at-risk basis
  • Calculation of NOLs for regular tax and AMT
  • Applying the net investment income tax
  • Alternative Minimum Taxation
  • Tax Deferred Exchanges under §1031

COURSE ACRONYM: PCR

PRESENTATION METHOD: Group-live

LEVEL OF KNOWLEDGE: Intermediate

PREREQUISITES:

  • None

ADVANCE PREPARATION: None

FIELD OF STUDY: Taxes/Individual Income Taxation

RECOMMENDED CPE CREDIT: 8 hours


CPE Sponsor icon

SmartPros®, A Kaplan Company and Loscalzo Institute, A Kaplan Company are registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.