1040 Preparation and Planning 8: Adjustments to Gross Income (2021)

Author: Barbara Weltman, Sidney Kess

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

This course examines adjustments to gross income, including deductions that don’t require itemizing; HSAs; IRA deductions; tax treatment of alimony, child support, and property settlements; and how to arrive at adjusted gross income.

Publication Date: November 2020

Designed For
Tax practitioners

Topics Covered

  • Adjusted Gross Income Section
  • Items Deductible from Gross Income
  • Educator Expenses
  • Expenses of Reservists, Performing Artists, and Fee-Basis Government Officials
  • Health Savings Accounts
  • Moving Expense Deduction
  • Deductible Part of Self-Employment Tax
  • Self-Employed SEP, SIMPLE, and Qualified Plans
  • Self-Employed Health Insurance Deduction
  • Penalty on Early Withdrawal of Savings
  • Alimony
  • IRA Deduction
  • Roth IRAs
  • Interest on Student Loans
  • Tuition and Fees Deduction
  • Other Deductions

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


Instructional Method

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Understanding of the form 1040

Advance Preparation

Registration Options
Regular Fee $59.00

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