This class was created by Brainscape user Alenia Catalina Pietri. Visit their profile to learn more about the creator.
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Decks in this class (33)
R1 - Filing Req and Filing Status
Individual income tax formula 1,
1040 ez standard deduction 2,
Who must file 3
20
cards
R1 - Gross Income: Pt 1
Fmv vs nbv 1,
Accrual method 2,
What s included in gross income t...
22
cards
R1 - Gross Income: Pt 2
Interest expense on sch c 1,
Se tax base 2,
Sch c net taxable loss limitation 3
10
cards
R1 - Items From Other Entities
Qbi deduction 1,
Threshold on qbi deduction 2,
Qbi w 2 wage and prop limitation 3
8
cards
R1 - Loss Limitations For Individuals
Passive 1,
Loss limitations pal 2,
Pal 3
5
cards
R1 - ESOP
Nonqualified esop with rav establ...,
Nonqualified esop without rav 2,
Nonqualified esop employer taxati...
8
cards
R2 - Adjustments
Ira 3 types 1,
Deductible ira max contrib 2,
Deductible traditional ira limita...
11
cards
R2 - Itemized Deductions
Std deduction additional 1,
Std deduction dp of another 2,
Med expenses 3
8
cards
R2 - Tax Computation and Credits
What are the non refundable credi...,
What are the refundable credits 2,
Dependent care credit standards 3
20
cards
R2 - AMT & Other Taxes
A atm exemption amt 1,
2 adjustments 2,
3 preference items 3
11
cards
R3 - Basis and Holding Period of Assets
1 purchased property 1,
What is real property 2,
What is personal property 3
13
cards
R3 - Dispositions
What s the difference btwn realiz...,
When is gain loss not recognized ...,
Basis in involuntary conversions 3
16
cards
R3 - Gains & Losses
Section 1231 1,
Section 1245 machinery and equip 2,
Sec 1245 depreciation recapture t...
18
cards
R3 - Related Party Transactions
Rp basis rules gift tax rules 1,
Below market loans 2,
De minimis exception 3
4
cards
R3 - Cost Recovery
Depreciation methods 1,
Machinery and equipment 2,
Mid month convention 3
12
cards
R4 - Corp Formation
Basis of property that corp recei...,
Does corp recognize gain 2,
What are the conditions that need...
9
cards
R4 - Corp Taxable Income
Executive compensation 1,
Bonus accruals 2,
Interest expense 3
13
cards
R4 - Differences Between Book & Tax
Permanent diff items of income ex...,
Temporary diff items of income ex...,
Bad debts 3
5
cards
R4 - Tax Comp & Credits
Small corps 1,
Large corps 2,
General business credit includes ...
11
cards
R4 - Consolidated Tax Returns
Initial requirements 1,
Affiliated group 2,
Consolidated taxable income calc 3
3
cards
R4 - NOL and Capital Loss Limitations
Nols limited to 80 of taxable inc...,
Nols notations 2,
Corp net cap loss 3
3
cards
R4 - Entity/Owner Transactions
Corp distributions dividends 1,
E and p netting rules 2,
Multiple distributions per year 3
16
cards
R5 - S Corps
Required yr 1,
Big calc 2,
Big tax built in gain 3
16
cards
R5 - Partnerships Pt 1, 2, 3
Profits interest acquired for ser...,
Taxable events for partners 2,
Basis of partner s interest 3
21
cards
R5 - Multi-jurisdictional Tax Issues
Arm s length 1,
When does transfer pricing occur 2,
What section covers avoidance of ...
8
cards
R5 - International Tax Issues
What taxation system does the us ...,
What is the ftc limitation 2,
What is the ftc limitation by bas...
20
cards
R6 - Trust and Estates
What is a fiduciary 1,
What are the two taxes that estat...,
How do you calculate dni 3
17
cards
R6 - Estate & Gift Transactions
General rule 1,
Unified transfer tax 2,
Lifetime gifts 3
27
cards
R6 - Tax-Exempt Organizations
Types of te orgs 1,
Sec 501 c 1 2,
Sec 501 c 2 3
20
cards
R6 - Circular 230
Circular 230 governing practice 1,
Subpart a authority to practice 2,
Subpart b duties restrictions mos...
23
cards
R6 - Professional Responsibilities and TRP Penalties
Trp 1,
Unlimited representation rights 2,
Signing trp 3
33
cards
R6 - Federal Tax Procedures
Selection of returns 1,
Statistical model 2,
Info return discrepancy 3
38
cards
R6 - Legal Duties & Responsibilities
Legal liabilities 1,
How to prove malpractice 2,
What is the best against breach o...
19
cards
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