CPE course study guides

Study guide for 1040 Overview-Part Two

The study guide is provided to guide you through the course material in a step by step format.

Reading assignments are for "1040 Overview-Part Two."

1) Standard Deduction

Reading Assignment: Standard Deduction <<>> Review Questions: # 1-2

The learning objectives for this lesson are to gain an understanding of:

• Standard deduction amounts
• Standard deduction for dependents
• Who should itemize

2) Itemized Deductions

Reading Assignment: Itemized Deductions <<>> Review Questions: # 3-31

The learning objectives for this lesson are to gain an understanding of:

• Medical and dental expenses
• Taxes
• Interest expense
• Contributions
• Nonbusiness casualty and theft losses
• Car expenses and other employee business expenses
• Tax benefits for work-related education
• Miscellaneous deductions
• Limit on itemized deductions

3) Figuring Your Taxes

Reading Assignment: Figuring Your Taxes  <<>> Review Questions: # 32-36

The learning objectives for this lesson are to gain an understanding of:

• How to figure your tax
• Tax on investment income of certain minor children

4) Figuring your credits

Reading Assignment: Figuring Your Credits <<>> Review Questions: # 37-60

The learning objectives for this lesson are to gain an understanding of:

• Child and dependent care credit
• Credit for the elderly or the disabled
• Child tax credit
• Education credits
• Earned income credit
• Other credits