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
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).
Get program info
Program at a glance
Format
Online (Live classes)
Language
Spanish
Program duration
18 hours
Cost of the course
$490 $390
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.
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.
Frequently Asked Questions
Who is this course designed for?
It is designed for individuals interested in personal income tax preparation, including tax preparers, bookkeepers, entrepreneurs, students, and administrative professionals.
What will I learn about Form 1040?
You will learn to identify income sources, interpret tax documents, apply adjustments, deductions, and credits, calculate tax obligations, and review a return before filing.
Does the course include practical cases?
Yes. The program combines tax fundamentals with exercises, document analysis, and cases covering different stages of tax return preparation.
Does the course automatically make me a certified tax preparer?
No. The program provides professional and practical training but does not replace any registration, credential, or regulatory requirement established by the IRS or other authorities.
What certificate will I receive?
After successfully completing the program, you will receive a Certificate of Completion from Millennia Atlantic University. This is a non-credit program.
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