1040 Preparation and Planning: Adjustments to Gross Income (Currently Unavailable)

Author: Barbara Weltman, Sidney Kess

This course looks at adjustments to gross income, including deductions don’t require itemizing such as educator expenses, expenses of Reservists, performing Artists, and fee-Basis Government Officials. It also discusses HSAs, IRA deductions; tax treatment of alimony, child support, and property settlements; and much more. Finally, it explains how to arrive at adjusted gross income.

Publication Date: December 2016

Designed For
Tax practitioners

Topics Covered

• Gross income adjustments
• Health savings accounts
• HSA contributions and eligibility
• Moving expense deduction
• Standard mileage rate

Learning Objectives

• List deductions that can be claimed without itemizing
• Determine eligibility for a health savings account
• Figure IRA deductions
• Describe the difference in tax treatment between alimony, child support, and property settlements
• Calculate how to arrive at adjusted gross income

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Understanding of the form 1040

Advance Preparation
None