1040 Preparation and Planning Series (2021 Edition) (Currently Unavailable)

It's never too early for your clients to start preparing and planning to file their Form 1040. The intricacies of the form can be difficult for taxpayers to understand and are continuously updated, which is why it's so vital for tax preparers to ensure their continuing education includes 1040 planning courses. Currently, tax preparers in all states are taking advantage of our 1040 Preparation and Planning Series (2021 Edition). Here's a closer look at what the series covers and what you can expect.

About the Series
As a recognized leader in the tax and accounting industry, CCH CPELink provides 1040 planning courses as a part of our approved self-study program. The 1040 Preparation and Planning Series (2021 Edition) is one of our most popular course series, as it utilizes web-based training methods to allow you to meet your continuing professional education requirements, keep up with the latest Form 1040 modifications, and position you to best serve your clients for tax season.

During the 12-course series, you’ll have a chance to earn a total of 24 CPE hours. You’ll get an overview of the fundamentals of preparing and planning the Form 1040, as well as the following topics:


  • Fundamentals of federal income tax and general income tax structure

  • Filing statuses and their requirements, innocent spouse relief, and personal and dependency exemptions

  • Inclusions and exclusions for gross income, reporting wages and benefits, and other employee compensation concerns

  • All facets of gross income, such as employee compensation, fringe benefits, interest, dividends, capital gains and losses, and more

  • Travel, entertainment, office, depreciation, work-related education, and other expenses and deductions for businesses

  • Standard deduction, tax credits, tax liability, and making tax payments


The courses that make up this robust series include the following:

This on-demand course introduces the fundamentals of federal income tax and gives an overview of the general income tax structure. It also includes some basic tax accounting essentials: tax year and accounting method. It discusses taxpayer classification, the purpose of the income tax return and forms, who must file a return, recordkeeping requirements and more.
Filing status is the status used to determine the applicable tax liability from the tax table or rate schedules. It also impacts certain limitations, thresholds, and other rules. While filing status may seem like the simplest entry on the tax return, there is often much confusion. This interactive on-demand course discusses the various filing statuses and the related requirements, as well as innocent spouse relief. It also covers personal and dependency exemptions, and the phase-out rules for dependency exemptions.
This on-demand course, the third in the 1040 Preparation and Planning series, covers gross income and different inclusions and exclusions, as well as reporting wages and benefits, taxable benefits, and benefits excluded from income.
This fourth course in the 1040 Preparation and Planning series covers gross income from interest, dividends, Social Security, alimony, unemployment benefits, cancellation of debt, and other income. A case study that walks you through calculating reportable income is included in this course.
This on-demand course discusses gains and losses. It defines basic terms, such as amount realized, basis, realized gain, and realized loss. It explains the basic requirements for nonrecognition of gain on involuntary conversions, and computation of the basis of property. The course looks at the distinction between capital and ordinary assets, which is important because capital gains and losses are reported differently from ordinary gains and losses, and the deduction of capital losses is sharply limited. It also covers Form 8949 and Schedule D of Form 1040.
This on-demand course looks at expenses and deductions for business, including: travel, entertainment, home office, work-related education, depreciation, losses, farming, rents and royalties, investments and income-producing activities. It also covers research and development expenditures, the domestic activities deduction, expenses that are part business and part personal, and much more.
This course looks at various types of income not covered in other courses in this 1040 Preparation and Planning series, as well as exclusions from gross income.
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.
This on-demand course discusses the current standard deduction, and reviews deductible medical expenses, deductible interest, and deductible taxes. Limitations on these deductible expenses are also discussed. In addition, the course reviews the following itemized deductions: charitable contribution deductions, including which organizations qualify to receive deductible contributions, how different types of contributions are handled, and substantiation requirements; casualty and theft losses; unreimbursed employee business deductions; and other miscellaneous itemized deductions. It also discusses the phase-out for high-income taxpayers.
This on-demand CPE course addresses the alternative minimum tax, employment taxes for the self-employed and household employees, the net investment income tax and additional Medicare taxes, as well as the individual healthcare mandate exemptions and penalties. It also discusses the recapture of the first-time homebuyer credit.
This on-demand course covers types of tax credits, including refundable and nonrefundable tax credits; figuring each type of personal tax credit; which credits are reported directly on the return and which must first be reported on Schedule 3 of Form 1040 and 1040-SR; and business tax credits.
This course examines figuring tax liability and making tax payments. In addition to figuring taxable income, the course will walk through the computations for lump-sum distributions, figuring kiddie tax, and other tax computation issues. It also examines various ways in which tax liability is paid, through income tax withholding, estimated tax payments, and tax credits, as well as post-filing options.
Total: 12 courses (24 CPE hours)

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