1120 Preparation and Planning 2: Income (2020 Edition)
Author: Barbara Weltman, Sidney Kess
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
This on-demand course provides a refresher on the preparation of corporate income tax returns. This is the second in a series of courses on Form 1120 preparation, focusing on income. All of the courses in this series have been fully updated to reflect recent legislative changes. It will provide participants with a solid foundation in preparing corporate income tax returns.
This is the second in a series of courses on Form 1120 preparation, focusing on income.
Presented by Miles Hutchinson.
Publication Date: September 2019
Designed For
Tax practitioners.
Topics Covered
- Introduction
- Business Income
- Other Income
- Schedules Mâ€1, Mâ€2, and Mâ€3
Learning Objectives
- Define general concepts affecting the reporting of income
- Recognize how to report inventory on Form 1125-A
- Identify and report other income items
- Recognize how to list filing requirements for Schedules M-1, M-2, and M-3
- Identify which concept is used to account for what happens on the 2019 return
- Recognize which types of increase to a corporation's wealth is income
- Describe where cost of goods sold is figured on
- Describe true statements with respect to LIFO
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
