Targeted 1040 Forms Update for the Occasional Tax Preparer Webinar

• Study current income tax Forms and Schedules for individual clients
• Understand which income tax returns and schedules have changed
• Review individual income tax preparation for the current year

• Do I need a PTIN? 
• Am I required to register as an ‘Authorized e-file Provider?’
• Where do I start?  
• Professional people acting Professionally, and if not, what are the penalties? 
• A tour of the most recent changes starting from gross income and ending with alternative minimum tax (AMT) and selected credits including the latest IRS guidance on significant recent tax legislation
• 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
• 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
• How the Affordable Care Act affects tax returns
• Review of new laws and changes in old forms to provide a familiarity for the upcoming tax season