Skip to main content
Introduction to Schedules C and E Textbook (2021) - #21321

Introduction to Schedules C and E Textbook (2021) - #21321

Available 5
Priced as low as:

$65.00 - Introduction to Schedules C and E Textbook (2021) - #21321 - Premium

$65.00 - Introduction to Schedules C and E Textbook (2021) - #21321 - Professional

$83.00 - Introduction to Schedules C and E Textbook (2021) - #21321 - Basic

$87.00 - Introduction to Schedules C and E Textbook (2021) - #21321 - Nonmember


While supply lasts.


Take your tax preparation skills to the next level. This textbook is ideal for the tax preparer who knows the basics of tax preparation, but now realizes there are a seemingly never-ending number of tax forms and concepts to learn. You will learn how to navigate the client’s records and prepare a return for a sole proprietorship, a rental property activity, and pass-through income from Schedule K-1s. The ability to prepare these types of activities will increase your skills as a tax professional and add value for your clients.

View Table of Contents.

Topics include:

  • Calculating basis of assets
  • Applying basis adjustments
  • Identifying the importance of basis tracking by the tax professional
  • Determining material participation in an activity and why this is important
  • Differentiating between taxation of passive income and nonpassive income
  • Identifying when assets are depreciated, and know how to calculate depreciation including bonus and §179 expensing
  • Identifying the difference between a deductible repair and a depreciable improvement
  • Determining what qualifies as Qualified Business Income (QBI)
  • Calculating the Qualified Business Income Deduction (QBID )
  • Determining business use of home eligibility
  • Calculating the deduction for business use of home
  • Determining whether a taxpayer’s activity is a hobby or a for-profit business venture
  • Completing Schedule C, Profit or Loss From Business
  • Completing Schedule SE, Self-Employment Tax
  • Completing Form 4562, Depreciation and Amortization
  • Completing Form 8829, Expenses for Business Use of Your Home
  • Identifying and report rental income and allowable rental expenses
  • Determining the depreciable basis of property used in a rental activity
  • Applying the vacation home rules
  • Determining eligibility for the special $25,000 loss allowance
  • Categorizing who meets the qualifications to be a real estate professional
  • Identifying when a rental is eligible for the QBID
  • Analyzing royalty income to determine whether to report on Schedule E or Schedule C
  • Calculating the shareholder’s stock and debt basis in the S corporation
  • Determining how much of a pass-through loss is deductible after applying the basis, at-risk and passive activity limitations
  • Reporting various pass-through items from Schedule K-1 from a partnership and S corporation on Form 1040, and applicable schedules
  • Completing Form 8995, Qualified Business Income Deduction Simplified Computation

Product Details:

Level: Basic

Authors: NATP Staff

Published: 2021

Format: Print - 416 Pages

Nonmembers – Join Now, Save More!

Corresponding CPE Courses:

Get the ebook FREE when you purchase the corresponding course.

Add to Cart