Individual Income Tax Form 1040 Comprehensive Problem
Construct a complex tax return step by step with a Certified Public Accountant CPA
310 Practice Problem 1 Part 1 Introduction Organizing Documents
315 Practice Problem 1 Part 2 Data Input Form W-2
320 Practice Problem 1 Part 3 Data Input Form W-2 Tax Formula – Excel Worksheet
325 Practice Problem 1 Part 4 Data Input Form 1099-DIV & Form 1099-INT
330 Practice Problem 1 Part 5 Data Input Form 1099-DIV & Form 1099-INT Tax Formula - Excel
335 Part 6 Data Input Form 1099-B Proceeds From Broker & Exchange Transactions
340 Practice Problem 1 Part 6 Data Input Form 1099-B Proceeds From Broker & Exchange Transactions Fo
345 Practice Problem 1 Part 7 Data Input State Refund, Unemployment, & Winnings
350 Practice Problem 1 Part 8 Data Input State Refund, Unemployment, & Winnings Formula – Excel Work
410 Practice Problem 1 Presentation 8 Adjustments to Income Student Loan Interest
412 Practice Problem 1 Presentation 9 Adjustments to Income Student Loan Interest Tax Equation - Exc
415 Practice Problem 1 Presentation 10 Adjustments to Income Charitable Contributions if you Take th
417 Practice Problem 1 Presentation 11 Adjustments to Income Charitable Contributions if you Take th
420 Practice Problem 1 Presentation 12 Adjustments to Income IRA Deduction
422 Practice Problem 1 Presentation 13 Adjustments to Income IRA Deduction Tax Formula - Excel
425 Practice Problem 1 Presentation 14 Adjustments to Income Alimony Paid
427 Practice Problem 1 Presentation 15 Adjustments to Income Alimony Paid Tax Formula - Excel
430 Practice Problem 1 Presentation 16 Adjustments to Income Educator Expenses
432 Practice Problem 1 Presentation 17 Adjustments to Income Educator Expenses Tax Formula - Excel
510 Practice Problem 1 Presentation 18 Itemized Deductions Medical & Dental Expenses
515 Practice Problem 1 Presentation 19 Itemized Deductions Medical & Dental Expenses Tax Formula - E
520 Practice Problem 1 Presentation 20 Itemized Deductions Taxes You Pay
522 Practice Problem 1 Presentation 21 Itemized Deductions Taxes You Pay Tax Formula - Excel
525 Practice Problem 1 Presentation 22 Itemized Deductions Interest you Pay
527 Practice Problem 1 Presentation 23 Itemized Deductions Interest you Pay Tax Formula - Excel
530 Practice Problem 1 Presentation 24 Gifts to Charity
532 Practice Problem 1 Presentation 25 Gifts to Charity Tax Formula - Excel
535 Practice Problem 1 Presentation 26 Other Itemized Deductions – Gamboling Losses
537 Practice Problem 1 Presentation 27 Other Itemized Deductions – Gamboling Losses Tax Formula - Ex
610 Practice Problem 1 #28 Sch. C Business Setup Business Worksheet
615 Practice Problem 1 #19 Sch C Business Mark Accounts That May Need Adjustments
620 Practice Problem 1 #30 Sch C Business Enter Into Tax Return & Record Open Items
621 Practice Problem 1 #31 Sch C Business Format Worksheet for Tax Adjustments
630 Practice Problem 1 #32 Sch C Business Auto Expense
635 Practice Problem 1 #33 Sch C Business Business Use of Home Office
645 Practice Problem 1 #35 Sch C Business Business Retirement Plan & Health Insurance
655 Practice Problem 1 #37 Sch C Business Estimated Tax Payments
650 Practice Problem 1 #36 Sch C Business Review Impact of Sch. C Business Income
710 Practice Problem 1 #38 Child Tax Credit & Other Dependents Tax Credit
712 Practice Problem 1 #39 Child Tax Credit & Other Dependents Tax Credit Tax Formula - Excel
715 Practice Problem 1 #40 Education Credit
717 Practice Problem 1 #41 Education Credit Tax Formula - Excel
720 Practice Problem 1 #42 Child & Dependent Care Credit
722 Practice Problem 1 #43 Child & Dependent Care Credit Tax Formula - Excel
725 Practice Problem 1 #44 Residential Entergy Credit
727 Practice Problem 1 #45 Residential Energy Credit Tax Formula - Excel
805 Practice Problem 1 #45 Rental Property Sch E Setup Worksheet
810 Practice Problem 1 #46 Rental Property Sch E Depreciation
815 Practice Problem 1 #47 Rental Property Sch E Data Input
820 Practice Problem 1 #48 Rental Property Sch E Data Input Tax Formula - Excel
825 Practice Problem 1 #49 Diagnostic State & Local Tax (SALT) Deduction Limitation
This is a project based income tax course.
We will construct a complex tax return in a step by step format, beginning with a basic return & building complexity as we move forward.
The course will demonstrate the data input within 2020 income tax forms as well as the use of an Excel worksheet to check the numbers and demonstrate the use of tax software.
Using tax software & an Excel worksheet, formatted as the income tax equation, are common, and best practices for many tax professionals, practices that greatly increase understanding and accuracy.
The practice problem with start by using basic tax data input forms such as W-2 forms and Form 1099s. We will then add a Schedule A Itemized Deductions. The problem will eventually include a Schedule C Sole Proprietorship and Schedule E Rental Income or Loss.
The materials for the course will include example tax forms after many of the steps in the practice problem. We will also include an Excel worksheet template that will be used in the instructional videos.
We will be using Lacerte tax software. You are not required to have Lacerte tax software to follow along. If you do not have tax software you can still follow along using tax forms from the IRS website and use the Excel worksheet. Other tax software can also be used in a similar way.
In some cases Lacerte may offer a free 30-day trial period of the tax software.