ACCT2255 – Income Tax-Individual pdf  Credits: 3 (2/1/0)
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 estimated taxes.
Prerequisites: MATH 0085 or by placement exam Corequisites:
(None)   1. Interpret tax terminology for individuals.   2.
Demonstrate knowledge of the federal tax system as applied to
individuals.   3. Differentiate individual filing statuses.   4.
Explain personal and dependency exemptions.   5. Determine items
to include and exclude from income.   6. Identify itemized
deductions.   7. Calculate tax for individuals.   8. Prepare
individual tax returns.   9. Prepare schedules and worksheets to
support tax returns.   10. Explain various tax credits.   11.
Analyze sales of assets for proper tax reporting.   12. Compute
depreciation for tax purposes. MnTC goal areas: (N/