1040 Income Adjustments

Overview

Above-the-line deductions are often overlooked but considered to be extremely beneficial for taxpayers. This course covers deductions in the “Adjustments to Income” section of Form 1040, Schedule 1, deductions that are taken before calculating AGI (adjusted gross income). Since they reduce gross income to determine AGI, they apply regardless of whether a taxpayer itemizes. 

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Learning Objectives

  • identify the conditions that must be met, and determine the amount of adjustments to gross income deductions than can be claimed by individuals who are:
    • reservists, fee-based government officials, and/or performing artists
    • owners of health savings accounts
    • self-employed and paying for health insurance
    • payers of alimony or student loan interest
    • contributors to an IRA


Designed For:

CPAs, EAs, and other tax professionals


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Course Information

Adding additional credit may change exam requirements.

Advanced Preparation: None