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8.0 Credits

Most CPAs have been preparing individual income tax returns for years. While many of the returns are easy, several issues come up in the busy season of which experienced practitioners wish they had additional knowledge. Explore the challenging tax issues for experienced practitioners and review better planning strategies and results for higher-income clients.


  •     Understand the basics of §199A
  •     Understand how to properly report advanced transactions in financial instruments and investments
  •     Understand the special problems and new issues for the current return
  •     Identify the causes of alternative minimum tax liability and what can be done to reduce or eliminate it

Major Topics

  •     New issues for the current year tax return and §199A
  •     Installment sales — understanding the complicated issues
  •     Form 8582: Passive losses with carryovers — Complicated case with filled-in forms
  •     Puts, calls, straddling, and unusual investments — Understanding the tax laws and reporting them correctly on the tax return
  •     Capital gain and loss issues — The problem with proper reporting of installment sales issues; capital gains and losses; when is a stock worthless; and much more…
  •     At-risk rules: What a return preparer really needs to know
  •     Passive loss issues — You can't just trust your software. What to watch out for and the questions you need your clients to answer in order to do it right!
  •     Incentive and nonqualified stock options — Reporting; key strategies for planning; dealing with the alternative minimum tax
  •     Alternative minimum tax — Understanding it; planning strategies to avoid it; using the minimum tax credit; explaining it to a client
  •     Form 6251: Detailed calculation example


Extensive experience in preparation of individual income tax returns

Advanced Preparation



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Tuesday, January 25, 2022

General Sessions