Based on the guidance found in the popular PPC Tax Deskbook Series, this course focuses on the preparation of individual tax returns and utilizes a key issue approach in covering such topics as: filing status, exemptions, income and adjustments, personal deductions, tax calculations and tax planning opportunities.

OVERVIEW
COURSE DESCRIPTION: This interactive self-study course discusses filing status, exemptions, income and adjustments, medical expenses, deductible taxes, interest expense, personal credits and tax payments.
PUBLICATION / REVISON DATE: September 2008
PREREQUISITE / ADVANCE PREPARATION: None
CPE CREDIT: 10 QAS Hours, 10 Registry Hours, 10 CTEC Federal Hours, 0 CTEC California Hours

Check with the state board of accountancy in the state in which you are licensed to determine if they participate in the QAS program and allow QAS CPE credit hours. This course is based on one CPE credit for each 50 minutes of study time in accordance with standards issued by NASBA. Note that some states require 100-minute contact hours for self study. You may also visit the NASBA website at www.nasba.org for a listing of states that accept QAS hours. Enrolled Agents: The CPE in this book is designed to enhance professional knowledge for Enrolled Agents. Gear Up is a qualified CPE Sponsor for Enrolled Agents as required by Circular 230 Section 10.6(g)(2)(ii). CFP® CREDIT: 5 CE Hours – CFP® Credit hours are one half the number of CPE credit hours

FIELD OF STUDY: Taxes
EXPIRATION DATE: Postmarked by December 31, 2009
KNOWLEDGE LEVEL: Basic
LEARNING OBJECTIVES
Chapter 1: Filing Status
Completion of this chapter will enable you to:
• Determine the appropriate filing status.
Chapter 2: Personal Exemptions
Completion of this chapter will enable you to:
• Perform dependency tests to determine allowable personal exemptions.
• Determine who claims the exemption when more than one person is providing support.
Chapter 3: Wages and Salaries
Completion of this chapter will enable you to:
• Analyze Form W-2.
1040 Income Tax Preparation
Chapter 4: Interest and Dividend Income
Completion of this chapter will enable you to:
• Determine the tax rate applicable to qualified dividends.
• Explain the tax treatment when bonds are purchased at a premium or a discount.
• Describe the treatment of interest on government bonds.
Chapter 5: Pension and Retirement Income
Completion of this chapter will enable you to:
• Determine the taxability of social security benefits.
• Apply the rules relating to distributions from traditional and Roth IRAs and describe how to convert
a traditional IRA into a Roth IRA.
• Explain how qualified retirement and IRA distributions can be rolled over into another plan and
apply the minimum distribution rules.
Chapter 6: Other Items of Income
Completion of this chapter will enable you to:
• Apply the rules relating to the recapture of alimony.
• Explain the treatment of distributions from medical savings accounts and health savings accounts.
• Apply the rules covering education savings accounts.
• Explain the tax treatment of certain other income items.
Chapter 7: Adjustments to Income
Completion of this chapter will enable you to:
• Apply the rules relating to contributions to various types of IRAs.
• Explain when the self-employed health insurance deduction can be claimed, and apply the rules
covering medical savings accounts and health savings accounts.
• Distinguish alimony from nondeductible payments.
Chapter 8: Standard Deduction
Completion of this chapter will enable you to:
• Determine the standard deduction applicable to each filing status.
Chapter 9: Medical Expenses
Completion of this chapter will enable you to:
• Identify deductible medical expenses, and apply the limits on the deductibility of long term care
insurance.
• Describe medical expenses that are not deductible.
Chapter 10: Charitable Contributions
Completion of this chapter will enable you to:
• Substantiate charitable contributions, and apply limitations on the deduction of charitable
contributions.
• Determine the value of contributions.
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Chapter 11: Deductible Taxes
Completion of this chapter will enable you to:
• Apply the rules relating to deductible state income or sales taxes, real estate taxes, and personal
property taxes.
Chapter 12: Interest Expense
Completion of this chapter will enable you to:
• Define nondeductible personal interest expense.
• Determine the deductibility of qualified residence interest expense.
• Identify investment interest expense, and explain the treatment of interest expense on qualified
retirement plan loans.
Chapter 13: Tax on Lump-sum Distributions
Completion of this chapter will enable you to:
• Determine when a lump-sum distribution from a retirement plan is taxable.
Chapter 14: Personal Credits
Completion of this chapter will enable you to:
• Determine eligibility and deductibility of various personal credits available to individuals.
Chapter 15: Tax Payments
Completion of this chapter will enable you to:
• Identify when the penalty for underpayment of estimated tax applies.
• Apply the rules relating to household employees under the so-called “nanny tax.”
Chapter 16: Filing Returns
Completion of this chapter will enable you to:
• Describe how various tax provisions are treated on a decedent’s final income tax return.
• Implement filing of a proper extension of time to file tax returns.
TO COMPLETE THE LEARNING PROCESS
Send your completed Examination for CPE Credit Answer Sheet Course Evaluation, and payment to:
Thomson Reuters
DT1T08 Self-study CPE
P.O. Box 966
Fort Worth, TX 76101
See the test instructions for more information.
ADMINISTRATIVE POLICIES
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