Northeast Wisconsin Technical College
10-101-154 020270 Accounting-Personal Tax
Outline of Instruction

Course Information
Description10-101-154 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.
Total Credits4
Prior Learning Assessments
None
Course Competencies
  1. Define the history of Federal Taxation and the formula for tax determination.
  2. Define standard deductions and exemptions.
  3. Complete Federal tax forms 1040EZ, 1040A, 1040.
  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 practice sets for individuals.