Form 1040: A Hands-On Workshop Self-Study Webinar (10 Hours)


Constant changes to the tax code make Form 1040 preparation an ongoing adventure. This self-study webinar gives you the confidence to:

  • Prepare tax forms, schedules and worksheets using the most recent forms available
  • Gain a working knowledge of tax law
  • Understand recent developments affecting individual tax returns

To give financial professionals a thorough review of, and an update on, Form 1040s. You will survey expiring tax law provisions. You will also examine areas of the form that can cause confusion.

  • Impact of the Tax Cuts and Jobs Act on preparation of Form 1040
  • Treatment and outlook for expiring tax law provisions
  • 3.8% net investment income tax
  • 0.9% additional Medicare tax
  • Premium tax credit and individual responsibility
  • Dependency exemptions and phaseouts
  • Kiddie tax and child tax credit
  • Education credits and education-related expenses
  • Itemized deductions, limitations and phaseouts
  • Capital gains tax
  • Sale of principal residence
  • Treatment of rental activities
  • Employee business expenses
  • Miscellaneous deductions limitation and exceptions
  • Tax credits for adoption, dependent care and other personal tax credits
  • Alternative minimum tax and credits
  • Pension, retirement and IRA basics

• Identify the requirements for filing MFJ

• Identify the characteristics of filing MFS and HOH

• Recognize the brackets in which taxpayers suffer from the “marriage penalty”

• Recognize taxpayers potentially subject to the kiddie tax

• Recognize the latest measurement of inflation

• Recognize the limitations of itemizing SALT

• Determine the requirements of the qualifying child’s residency test

• Recognize the IRS position when a qualifying child spends equal amounts of time as a resident of divorced parents

• Identify the ability of a taxpayer to claim dependency exemptions when claimed as a dependent by another taxpayer himself

• Identify the basic mechanism by which Congress attempted to lower the tax rate for pass-through income

• Recognize the implications of the Section 199A deduction to both lower and higher earning taxpayers

• Identify the monetary limits of the child tax credit

• Identify the circumstances under which a taxpayer must make estimated tax payments

• Identify the additional Medicare tax rate imposed on taxpayers with earned income in excess of their applicable threshold

• Calculate the Medicare surcharge tax due on net investment income in excess of the applicable threshold

• Identify items of income which would be included in determining net investment income

• Identify the levels of insurance coverage representing the minimum coverage under the Affordable Care Act

• Recognize the out-of-pocket cost associated with the different levels of insurance coverage

• Identify the overall effect of the TCJA on the ACA’s shared responsibility payments

• Recognize the capital gains tax rate for those in the lower tax brackets

• Recognize the entities from which a taxpayer could receive dividends taxed at the reduced capital gains tax rates

• Recognize the amount of income a taxpayer must recognize when renting out their home for fewer than 15 days a year

• Recognize the number of days a taxpayer can use a second home for personal use and still have it characterized as investment property

• Recognize the order in which expenses are allocated when a home is used for both vacation and personal use

• Recognize the depreciation ramifications when a residential property is converted to a rental property

• Identify the amount a taxpayer can exclude from the gain on the sale of a personal residence

• Identify the time frame a surviving spouse is given to fully utilize the residential gain exclusion

• Identify the amount of the allowable passive loss deduction available for taxpayers who actively participate in a rental property

• Recognize the rules for deducting suspended passive activity losses

• Recognize examples of passive losses

• Recognize the implications of alimony for agreements entered into both before 2019 and after 2018

• Identify the IRA contribution limit for individuals past the age of 49

• Identify early IRA withdrawals not subject to penalty

• Identify the characteristics of a Roth IRA

• Identify the monetary limits of deductible interest payments on student loan debt

• Identify the monetary limits of deductible tuition/fees

• Recognize the increased AGI limitations of charitable gifting under the TCJA

• Recognize the threshold at which a taxpayer must obtain contemporaneous, written acknowledgement of charitable contributions

• Recognize the threshold at which a taxpayer must obtain an appraisal for charitable contributions of property

• Identify the advantages of making IRA distributions directly to a charity

• Recognize the time frame within which a taxpayer may claim the American Opportunity Tax Credit




No advance preparation required.

Level of Knowledge: 


CPE Credit: 
NASBA Field of Study: