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Sara S
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Decks in this class (30)
Filling Requirement and Filling Status
Individual income tax formula,
When to file tax return,
Filling status
6
cards
Gross Income
Pass key event taxable income fmv...,
Realization vs recognition,
When can you use accrual method a...
29
cards
Items from Other Entities
Flow through entities,
K1business income business expens...,
S corp
10
cards
Loss limitation for Individuals
Tax basis limitation,
At risk basis limitation,
Passive activity loss
9
cards
Adjustments
Adjustments vs itemized deduction,
Adjustments for agi above the lin...,
Educator expense
18
cards
Itemized Deductions
Itemized deduction,
Standard deduction,
The additional standard deduction...
16
cards
Tax Computations & Credits
Long term capital gains and quali...,
Tax credits,
1 child and dependent care credit
23
cards
R3. Basis & Holding Period of Assets
Basis holding period1 purchase,
Basis holding period2 gift,
Basis holding period3 inheritance
4
cards
R3. Taxable and Non taxable Dispositions
Realized vs recognized,
Amount realized,
Gain loss
13
cards
Gains & Losses
Capital assets,
Capital gain n loss rule for indi...,
C corporation capital gains n losses
9
cards
Related Party Transaction
Related party provisions wrap for...,
Constructive ownership,
Capital gains and related parties
5
cards
R3. Cost Recovery
Depreciation,
Macrs personal property,
Macrs real property
8
cards
R4. Corporate Formation
Formation of c corp,
Formation of c corp,
Shareholders basis of common stock
3
cards
R4. Book tax difference
Temp and permanent difference rec...
1
cards
R4. Corporate taxable income
Crop gross income,
Cash basis vs accrual basis,
Trade biz deductions ordinary and...
7
cards
R4. Tax Computation and Credits - Corp
Taxation of c corporation,
Corp tax,
Tax credits c corp
6
cards
R4. Consolidated tax return
Consolidated tax return,
Consolidated taxable income calcu...,
Tax accounting method and periods...
3
cards
R4 NOL and Capital loss limitations + Entity/owner transactions
Nol and capital loss,
Contribution to corp formation di...,
Dividends fromcurrent accumulated
9
cards
R5 S corp
S corporation,
Eligibility to be scorp when the ...,
Effect of s corp election on c corp
12
cards
R5 Partnership
Formation,
Partnership interest capital inte...,
Property subject to an excess lia...
22
cards
R5. Multi-jurisdictional tax issues
Federal transfer pricing,
Arms length standard,
Transfer pricing issues
7
cards
R5. International tax issues
Worldwide tax system vs territori...,
Foreign tax credit,
Participation exemption or divide...
14
cards
R6 Trust & Gifts
Simple trust vs complex trust,
Gift tax,
Gift tax issues 1 present vs futu...
6
cards
R6 Circular 230
Circular 230,
1 authority to practice before irs,
2 duties and restrictions part 1
8
cards
R6 professional responsibilities and tax preparer penalties
Tax preparer tax practitioner,
Signing tax return preparer nonsi...,
Substantial authority
13
cards
R6 Federal tax procedure
Audit process,
Review for mathematical error cor...,
Formal examination office or fiel...
6
cards
R6 legal duties and responsibilities
Legal liabilities 1 breach of con...,
Ordinary negligene fraud construc...,
Damages
4
cards
R7 Agency
Agency,
1 power of attorney 2 rights and ...,
Principal remedies if agent breac...
10
cards
R7 Contracts
Contract,
Source of contract law,
Agreement mutual assent offer and...
7
cards
R7 Contracts Part 2
Defenses,
List of defenses void remember sh...,
More defenses
4
cards
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REG
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