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BA 257 Income Tax Accounting II

The second course in the Income Tax Accounting sequence. Students continue to focus on preparation for the Oregon Board of Tax Practitioner's Licensed Tax Preparer exam.

Credits

4

Prerequisite

BA 256 Income Tax Accounting I with a grade of C or better.

Notes

Career Technical Education (CTE) Course

Outcomes

Identify itemized deductions such as medical expenses, taxes, interest, charitable contributions, and educational incentives, and identify when a tax client can claim various credits. Demonstrate an understanding of the alternative minimum tax. Apply Modified Accelerated Cost Recovery System (MACRS) depreciation to business equipment and property. Compute basic capital gains and losses with corresponding holding periods. Apply bad debt regulations. Demonstrate an understanding of proper tax treatment of installment sales, sales of personal residences, and like-kind exchanges. Apply proper tax treatment for full year, part-year and non-residents in Oregon.