Many taxpayers still file Schedule A as part of their 1040 package. This course brings you up to date with the latest information regarding the standard deduction or itemized deductions.

Medical costs, taxes, and interest expenses are the main deductions left available for taxpayers. These expenses are discussed in detail.

Casualty losses and other deductions included on Schedule A are also covered.

What will you learn in this course:

You will learn how to handle different types of income for tax purposes and how to enter them into tax preparation software. The objectives of the course are listed below:

• Learn how to decide between the standard deduction and itemized deductions for maximal benefits.
• Learn which forms are commonly used when itemizing deductions.
• Learn what expenses are deductible and their limitations if any.
• How to report non-cash charitable contributions.
• Walkthrough entering the information on all of the above in tax preparation software.