1040 Schedule A

Overview

Schedule A is usually considered one of the easiest forms to fill out. But are we really making sure that our clients are getting all the deductions they deserve? Within Schedule A, there are many often-overlooked deductions.

In this course, we will discuss medical expenses, taxes and interest paid, charitable contributions, and miscellaneous itemized deductions. One of the keys to preparing a good tax return is asking the right questions, so we will offer some advice on what you should be asking your clients. We will also look ahead to changes to certain Schedule A deductions that took effect during the current tax year.

Learning Objectives

Upon successful completion of this course, students will be able to:

  • given a list of medical expenses incurred by a taxpayer, identify those which may be itemized and calculate the deduction 
  • identify the taxes that may be deductible, including the real estate and sales taxes that apply in different states and municipalities
  • identify the types of mortgage interest and points that taxpayers may deduct
  • identify eligible cash and non-cash charitable donations and the types of documentation that are needed to support their deduction

Tax Year: 2020

Designed For

EAs, CPAs, CRTPs, and other tax and financial professionals. This course is most beneficial to professionals new to Schedule A who may be at the staff or entry level in organization but also for an experienced professional with limited exposure or in need of an update to the current tax year.

Prerequisites

Exposure to Form 1040 and its schedules is helpful but not required
WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
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