1040 Preparation and Planning 3: Personal & Dependency Exemptions (2018) (Currently Unavailable)
Author: Sidney Kess, Barbara Weltman
| CPE Credit: |
1 hour for CPAs
1 hour Federal Tax Related for EAs and OTRPs
1 hour Federal Tax Law for CTEC |
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
