Navigating Individual Tax Returns & Schedules

This course provides an in-depth understanding of IRS Tax Forms and Schedules, with a specific focus on mastering Form 1040: U.S. Individual Income Tax Return. Participants will gain comprehensive insights into the nuances of individual tax returns, exploring various schedules and additional forms that accompany the Form 1040. The curriculum is designed to equip you with the skills necessary to accurately complete your taxes, ensuring compliance and maximizing potential returns. Through detailed modules and expert guidance, you'll learn to navigate complexities, understand deductions, credits, and develop a robust knowledge of tax regulations and requirements.


42 Lessons

Already Joined? Login

Introduction to Form 1040

Overview of Form 1040

Components of Form 1040

Role of Form 1040 in Tax Returns

Filing Requirements for Form 1040

Understanding Schedules Associated with Form 1040

Overview of 1040 Schedules

Schedule A: Itemized Deductions

Schedule B: Interest and Ordinary Dividends

Schedule C: Profit or Loss from Business

Reporting Income Sources on Form 1040

Wages and Salaries

Interest and Dividend Income

Business Income and Self-Employment

Capital Gains and Losses

Applying Deductions and Credits on Form 1040

Standard vs. Itemized Deductions

Tax Credits: Child and Dependent Care

Education Credits: American Opportunity and Lifetime Learning

Energy and Other Tax Credits

Filing Process and Submission Requirements for Form 1040

Filing Methods: Paper vs. Electronic

Required Documentation for Filing

Deadlines and Extensions

Common Filing Mistakes to Avoid

Interpreting Tax-Related Documents for Form 1040

Understanding W-2 and 1099 Forms

Reading and Analyzing Tax Statements

Decoding IRS Notices and Letters

Using Tax Software for Document Interpretation

Practical Insights through Case Studies

Case Study: Basic Tax Return Filing

Case Study: Itemized Deductions

Case Study: Self-Employment Income

Case Study: Tax Credits Application

Advanced Application of Form 1040 Schedules

Analyzing Complex Tax Scenarios

Optimizing Tax Outcomes with Form 1040

Advanced Use of Schedules for Form 1040

Evaluating Tax Implications of Financial Decisions

Integrating Additional IRS Forms with Form 1040

Form 1040-X: Amended U.S. Individual Income Tax Return

Form 8962: Premium Tax Credit

Form 8863: Education Credits

Form 8889: Health Savings Accounts (HSAs)

Advanced Tax Schedule Applications

Introduction to Tax Schedules

Schedule D: Capital Gains and Losses

Schedule E: Supplemental Income and Loss

Schedule SE: Self-Employment Tax

Test Your Knowledge

Quiz

E-Book