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Accounting-Personal Tax

Credits: 4
Course Number: 10-101-154

Course Description

10-101-154 ACCOUNTING-PERSONAL TAX ...history and research of tax law and regulations; preparation of federal individual income taxes including forms 1040, 1040A, and 1040EZ, and supporting schedules and forms.

Course Typically Offered

  • Fall
  • Spring

Most NWTC classes are offered in 8-week sessions. Learn more about how our class schedule can help you succeed.

How can I use this course to achieve my career goals?

This course is associated with the following programs:

What will I learn?

  1. Define the history of Federal Taxation and the formula for tax determination.
  2. Define standard deductions and exemptions.
  3. Complete Federal tax forms.
  4. Identify gross income.
  5. Identify gross income exclusions.
  6. Categorize personal deductions and prepare Schedule A form.
  7. Identify business income, deductions, and calculate self-employment.
  8. Determine the tax consequences of other activities and prepare necessary forms.
  9. Determine income tax consequences of property transactions, including sales exchange, or other disposition of property.
  10. Identify property transactions that require recognition. Calculate gain or loss and complete necessary tax forms.
  11. Calculate tax credits and other taxes or taxing methods and complete necessary tax forms.
  12. Complete the TSA practice set for individuals.