Title

ACCT2255 - Income Tax-Individual

API ID

Credits

3 (3/0/0)

Description

This course provides an explanation and interpretation of the Internal Revenue Code as applied to individual income tax returns. Topics covered include filing requirements, filing status, gross income and exclusions, business income and expenses, tax credits and tax estimates.
Prerequisites
  • MATH 0055 or placement by assessment

Competencies

  1. Interpret tax terminology for individuals.
  2. Demonstrate knowledge of the federal tax system as applied to individuals.
  3. Differentiate individual filing statuses.
  4. Determine items to include and exclude from income.
  5. Identify itemized deductions.
  6. Calculate tax for individuals.
  7. Prepare individual tax returns with supporting schedules and worksheets.
  8. Explain various tax credits.
  9. Analyze sales of assets for proper tax reporting.
  10. Navigate the IRS.gov website.
Degrees that use this course

Degrees that use this course

Accounting
Degree:
Associate of Applied Science (AAS)
Location:
Moorhead Campus
Online
Credits:
60