Overview

4.0 Credits
ONLINE

The sheer mass of Internal Revenue Code provisions affecting individual taxpayers presents a considerable challenge for CPAs and tax professionals. These provisions, combined with the potential for input error when utilizing the array of income tax software available, create the potential for many errors that can occur when preparing your client’s tax return. Discuss the common errors practitioners make on individual tax returns that are often missed by review staff. Sharpen your reviewing skills by examining case studies and discussing issues for which additional information from the client may be warranted, as well as areas of tax law that require further analysis and information.

Objectives

• Determine the proper tax treatment for certain rental property activities.
• Distinguish between hobbies and businesses.
• Identify the warning signs that a client might have unreported income.
• Determine proper tax return reporting of a like-kind exchange transaction.

Major Topics

• Qualified business income deduction
• Hobby losses
• Self-employment health insurance
• Business start-up costs
• Depreciation
• Schedule C issues
• Like-kind exchanges
• Charitable contributions of property

 

Prerequisite

Experience with tax return preparation

Sessions

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Wednesday, November 12, 2025

General Sessions
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