The basic principle of all deductions is that deductions are not allowed unless specifically authorized by law. Further, no deduction is allowed for personal, living, or family expenses (including medical expenses) unless specifically authorized. [IRC Sec. 262(a)] It is important to determine whether a deduction is taken for adjusted gross income or from adjusted gross income. Keep in mind, however, that a deduction may be claimed in more than one place (e.g., a depreciation deduction may be a trade or business expense or a deduction attributable to rental income). This program focuses on the deductions taken for adjusted gross income, or the above-the-line deductions This course is most appropriate for the professional with detailed knowledge in Form 1040 who may be at a mid-level position within an organization with operational or supervisory responsibilities, or both.

By proceeding to the examination, you acknowledge and confirm that you have completed the required coursework.