Personal Income Tax Preparation

Personal Income Tax Preparation – Form 1040

From Income to Tax Due

This program has been designed to train tax preparers, accountants, bookkeepers, entrepreneurs, and students in the complete preparation of the IRS Form 1040.

Participants will learn, step by step, the entire tax preparation process for an individual taxpayer—from identifying sources of income to calculating the final tax liability, tax credits, withholding, refunds, and balances due.

OBJECTIVES OF THE COURSE

Upon completion of this program, participants will be able to:

Correctly prepare an IRS Form 1040 tax return.
Identify reportable sources of income.
Apply allowable adjustments and deductions.
Calculate applicable tax credits.
Determine additional taxes.
Analyze common IRS notices.
Detect frequent tax preparation errors.
Review tax returns prior to filing.
Explain tax return results to clients.
Apply proper tax compliance procedures.

Duration and Methodology

The program consists of twenty-four (24) hours of lectures and practical exercises.

The methodology combines:

Tax theory
Real-world case studies
Practical exercises
Interpretation of tax documents
Analysis of personal financial information
Application of technology and Artificial Intelligence for tax professionals

Contents of the Personal Income Tax Preparation Course

1 Module 1: Introduction to the U.S. Tax System

Objective

Understand the basic structure of the U.S. federal tax system.

Topics

What is the IRS?
Types of taxpayers
Resident and nonresident taxpayers
Filing Requirements
Dependents
Filing Status

Module 2: Tax Documents

Objective

Identify the documentation required to prepare an individual tax return.

Topics

Form W-2
Form 1099-NEC
Form 1099-MISC
Form 1099-K
Form SSA-1099
Form 1098-T
Form 1098 Mortgage Interest Statement

Exercise

Classification and analysis of actual tax documents.

Module 3: Wage Income

Objective

Correctly interpret Form W-2.

Topics

Federal Wages
Social Security Wages
Medicare Wages
Federal Tax Withholding

Exercise

Partial preparation of a tax return using two Forms W-2.

Module 4: Business Income – Schedule C

Objective

Prepare income and expenses for sole proprietorships and small businesses.

Topics

Gross Receipts
Cost of Goods Sold
Business Expenses
Home Office Deduction
Business Mileage

Exercise

Complete preparation of Schedule C.

Module 5: Investment Income

Objective

Accurately report investment income.

Topics

Interest Income
Dividends
Capital Gains
Brokerage Statements

Exercise

Preparation of Schedule B.

Module 6: Rental Income

Objective

Apply the basic tax rules governing rental properties.

Topics

Schedule E
Depreciation
Deductible Expenses
Assets and Liabilities

Exercise

Residential rental property case study.

Module 6: Rental Income

Objective

Apply the basic tax rules governing rental properties.

Topics

Schedule E
Depreciation
Deductible Expenses
Assets and Liabilities

Exercise

Residential rental property case study.

Module 7: Other Income

Objective

Identify and report special sources of income.

Topics

Gambling Winnings
Alimony
Foreign Income
Royalties
Unemployment Compensation

Exercise

Analysis of special tax scenarios.

Module 8: Adjustments to Income

Objective

Legally reduce taxable income through allowable adjustments.

Topics

IRA Deduction
Health Savings Account (HSA)
Student Loan Interest Deduction
Self-Employed Health Insurance Deduction

Exercise

Calculation of Adjusted Gross Income (AGI).

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Get program info

Program at a glance

Format

Online / On Campus

Language

Spanish

Program duration

24 hours

Cost of the course

$700

Schedule

Saturday 12, 19: 9 am – 3 pm
Sunday 13: 9 am – 3 pm

Start: September 12, 2026

Important Information

The programs offered by the Executive & Continuing Education Department at Millennia Atlantic University are non-credit programs and do not award academic credit. Upon successful completion of the program, you will receive a Certificate of Completion issued by Millennia Atlantic University.

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Meet Your Tutor

Zailili Tovar, MBA, CAA, AFSP

Yazmin Tovar is an experienced accounting and taxation instructor with an MBA in Accounting and Business Management. She teaches continuing education programs approved by the IRS and endorsed by U.S. universities. Drawing on more than five years of professional experience, Yazmin helps students understand tax preparation, accounting processes, regulatory compliance, and financial decision-making through practical, real-world instruction.

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