Federal Income Tax for Individuals

Catalog description

A study of federal income tax laws related to individuals. Topics covered will include: income inclusions, income exclusions, deductions, losses, nontaxabale exchanges, property transactions, cost recovery, calculation of tax liability as well as credits. Application of concepts will be demonstrated through the preparation of tax returns manually, using software as well as through tax research and communication of findings. Prerequisite(s): Grade of C or above in ACT 203 and ACT 204 , or C or above in ACT 201 and ACT 202 .