ACC 432A – October 2011 TAXATION INDIVIDUALS
Dr. Forrest E. Young, CPA
PHONE NUMBER: Will supply later
CCH FEDERAL TAXATION, COMPREHENSIVE TOPICS, 2011.
OPTIONAL STUDY :
Also available from CCH a companion
Study Guide, 2011.
questions and answers for repetitive review.
online study guide.
MICROSOFT 97 or higher (This will include WORD,
EXCEL, and POWERPOINT.)
An introduction to the theory and practice of federal income taxation of individuals, including
income, deductions, exemptions, credits, capital gains/losses, depreciation, passive activity gains
and losses, AMT and deferred compensation plans.
As a course requirement, students prepare a
Form 1040 individual income tax return including various tax return chedules.
Upon successful completion of this course, students will be able to:
Describe and apply the
rules for determining exemption and filing status of an
Identify allowable deductions and distinguish between those that can be used to reduce
adjusted gross income and those that are deducted
adjusted gross income.
Correctly use the types of deductions that may be allowed as itemized deductions, and
calculate appropriate limits, where applicable.
Analyze capital transactions, identify those for which gain or loss is recognized, and
apply capital loss rules, including carry-back and carry-forward provisions, when
Distinguish between ordinary income/loss and capital gain income/loss.
Describe and apply Passive Activity Loss rules.
Apply rules regarding depreciation of tangible personal property, real property, and
Distinguish between “assets used in a trade or business” and “capital