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