1040 Preparation and Planning 3: Personal & Dependency Exemptions (2018) (Currently Unavailable)

Author: Sidney Kess, Barbara Weltman

This course, the third in the 1040 Preparation and Planning series, covers personal and dependency exemptions, and the phase-out rules for dependency exemptions.

Publication Date: November 2017

Designed For
CPAs, Tax Return Preparers, Enrolled Agents, Tax Attorneys, Tax Practitioners

Topics Covered

• Personal Exemptions
• Exemptions for Dependents
• Tests for Qualifying Children
• Qualifying Relative Tests
• Mutual Support Agreements
• Special Rules for Children of Divorced Parents or Unmarried Parents
• Phase-out of Exemptions

Learning Objectives

• List the requirements for claiming a dependency exemption
• Determine whether a multiple support agreement can be used
• Explain the special rules for the exemption for a child whose parents are not married to each other and living apart
• Compute the phase-out of dependency exemptions

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Taxes (1 hour)

Program Prerequisites
Basic understanding of Federal Tax Law

Advance Preparation
None