This session provides an overview of miscellaneous taxes from Form 1040 and reported on Schedule 2 that a taxpayer might be assessed. This includes excess Social Security tax, additional taxes on IRAs, the Alternative Minimum Tax (AMT), and household employment taxes.
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Objectives
At the end of this course, the student will be able to do the following:- Understand how to complete Schedule 2 of the Form 1040.
- Explain when a taxpayer must repay the Premium Tax Credit.
- Understand the taxability of excess Social Security.
- Identify when a taxpayer must pay an additional tax on IRAs.
- Explain when to use Schedule H.
Field of Study: Federal Tax Law 1 Hour
Course Level: Intermediate
Prerequisite: General tax preparation knowledge is required
Delivery Method: Self-Study
IRS CE: 15G0B-T-00454-20-S
CTEC: 2080-CE-0084
Expiration Date to earn CEs: October 1, 2021