CCH Learning Center

Corporate Income Tax Refresher Course Part 2: Form 1120 Income (2005 Edition)

This is the second in a series of courses on Form 1120 preparation. All of the courses in this series have been fully updated to reflect recent legislative changes, including the most significant changes from the American Jobs Creation Act of 2004.

This course provides step-by-step instructions for completing the income portion of the 2004 Form 1120. It alerts practitioners to planning opportunities presented by recent legislation and provides numerous tax-saving suggestions and compliance advice.

Important practical pointers and observations are integrated to help practitioners maximize planning opportunities and avoid potential problems. Specifically, this course reviews:

• 2004 tax form changes;
• latest legislative and regulatory changes effective this year;
• UNICAP rules;
• inventories;
• gross income;
• dividends;
• interest;
• capital gain net income;
• net gain or loss from Form 4797;
• other income; and
• Schedules M-1 and M-2