ACC 215 Federal Taxation Course Objectives:

The student will develop an understanding and exhibit a knowledge of:

1. Filing requirements
2. Filing status
3. Exemptions
4. Income determination
5. Adjustments to income
6. Standard versus itemized deductions
7. Credits for individuals and business
8. Tax liability and penalties

By the end of the course, the student will be expected to demonstrate his/her knowledge of the current tax code by preparing the following forms:

1. FORM 1040-EZ
2. FORM 1040-A
3. FORM 1040
4. FORM-EIC-Earned income credit
5. FORM 2441-Dependant care credit
6. Child tax credit
7. Schedule A-Itemized deductions
8. FORM 2106-Unreimbursed business expenses and miscellaneous deductions
9. Non-cash charitable contributions
10. Casualty, thefts and losses
11. Schedule B- Interest and dividends
12. Schedule C- Profit/loss in a business/profession
13. FORM 4562-Depreciation and amortization
14. Schedule SE-Self-employment taxes
15. Schedule D-Capital Gains and losses
16. FORM 2119-Sale of home
17. FORM 4797-Disposal of capital asset
18. FORM 3903-Moving expenses
19. Schedule E-Supplemental income
20. Schedule F- Farm income
21. Taxable social security and pensions/annuities
22. Form 8863-Education credits