Reviewing Individual Tax Returns: What Are You Missing?

Overview

Strategies to help return reviewers quickly identify common errors that practitioners make on individual tax returns.

Prerequisites

Experience with individual tax return preparation

Objectives

• Determine the proper tax treatment for certain rental property activities.
• Distinguish between hobbies and businesses.
• Identify the warning signs that a client might have unreported income.
• Determine proper tax return reporting of a like-kind exchange transaction.

Highlights