Ultimate Guide to the TCP Section: CPA Exam Blueprint and Study Resources

Area I – Tax Compliance and Planning for Individuals and Personal Financial Planning (30–40%)

Skill
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
A. Individual compliance and tax planning considerations for gross income, adjusted gross income, taxable income and estimated taxes
Recall the impact of equity compensation awards on taxable income.
Article: TCP CPA Exam: Understanding the Impact of Equity Compensation Awards on an Individual's Taxable Income
Recall items included in dermination and computation of Alternative Minimum Taxable income.
Article: TCP CPA Exam: Understanding the Items Included in Determination and Computation of Alternative Minimum Taxable Income
Consider the impact to an individual’s taxable income for certain items of gross income, including imputed interest on below-market rate loan and compensation earned while employed outside the U.S.
Article: TCP CPA Exam: How Certain Items of Gross Income Such as Imputed Interest on Below-Market Loans or Compensation Earned Outside the U.S. Affects an Individual's Taxable Income
Calculate the tax on a child’s investment and other unearned income.
Article: TCP CPA Exam: How to Calculate the Tax on a Child's Investment and Other Unearned Income
Consider the effect of changing tax rates and legislation on the timing of income and expense items for planning purposes given a specific scenario.
Article: TCP CPA Exam: Understanding the Effect of Changing Tax Rates and Legislation on the Timing of Income and Expense Items for Planning Purposes Given Specific Scenarios
Identify projected tax savings through utilization of flexible spending accounts (FSAs) and qualified health savings accounts (HSAs) for planning purposes given a specific scenario.
Article: TCP CPA Exam: Identify Projected Tax Savings Through Utilization of FSAs and HSAs for Planning Purposes Given a Specific Scenario
Consider the impact of using either itemized deductions or the standard deduction for planning purposes given a specific scenario.
Article: TCP CPA Exam: Understanding the Impact of Using Either Itemized Deductions vs the Standard Deduction for Planning Purposes Given a Specific Scenario
Calculate estimated tax payments required for an individual to avoid underpayment penalties given a specific planning scenario.
Article: TCP CPA Exam: How to Calculate Estimated Tax Payments for an Individual to Avoid Underpayment Penalties Given a Specific Planning Scenario
Calculate the potential tax savings when donating noncash property to a charitable organization given a specific planning scenario, including identification of the property to be donated to minimize the individual’s current-year tax liability.
Article: TCP CPA Exam: How to Calculate the Potential Tax Savings When Donating Noncash Property to a Charitable Organization to Minimize an Individual's Tax Liability
Review an individual’s projected income and expenses prior to year end to determine the tax implications, and provide options to minimize tax liability given a specific planning scenario.
Article: TCP CPA Exam: How to Review an Individual's Projected Income and Expenses to Determine Tax Implications and Provide Options to Minimize Tax Liability
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
B. Compliance for passive activity and at-risk loss limitations (excluding tax credit implications)
Calculate the at-risk loss limitation for an activity in which an individual materially participates, including losses from pass-through entities and losses from real estate rental activities with active participation.
Article: TCP CPA Exam: How to Calculate the At-Risk Loss Limitation Where an Individual Materially Participates, Including Pass-Through Entities and Rental Real Estate
Calculate the passive activity loss limitations given a specific scenario, including the netting of passive activity gains and losses.
Article: TCP CPA Exam: How to Calculate the Passive Activity Loss Limitations Given a Scenario, Including the Netting of Passive Activity Gains and Losses
Calculate utilization of suspended losses on the disposition of a passive activity for tax purposes.
Article: TCP CPA Exam: How to Calculate the Utilization of Suspended Losses on the Disposition of a Passive Activity for Tax Purposes
Review an individual’s basis schedules and supporting documentation for a pass-through entity, including any source data used to create the schedules, to confirm the correct allocation of a loss between the amounts suspended for at-risk limitations, suspended for passive activity rules, and allowed for tax purposes.
Article: TCP CPA Exam: How to Review an Individual's Basis Schedules for a Pass-Through Entity to Assess Allocation of Loss for At-Risk Limitations and Passive Activity Rules
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
C. Gift taxation compliance and planning
Recall allowable gift tax deductions and exclusions for federal gift tax purposes.
Article: TCP CPA Exam: Understanding Allowable Gift Tax Deductions and Exclusions for Federal Gift Tax Purposes
Explain the unified transfer tax system and how the annual exclusion, marital deduction and the unified credit impact the planning for gifts and gift taxation.
Article: TCP CPA Exam: Understanding the Unified Transfer Tax System and How the Exclusions and Deductions Impact the Planning for Gifts and Gift Taxation
Calculate the amount of taxable gifts for federal gift tax purposes.
Article: TCP CPA Exam: How to Calculate the Amount of Taxable Gifts for Federal Gift Tax Purposes
Identify the potential tax savings from gifting ownership of noncash property to an individual given a specific planning scenario, including identification of the property to be gifted to minimize the donor’s future estate.
Article: TCP CPA Exam: How to Identify Potential Tax Savings From Gifting Ownership of Noncash Property to an Individual Given a Specific Planning Scenario
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
D. Personal financial planning for individuals
Demonstrate an understanding of the advantages and disadvantages of different qualified retirement plans, including traditional IRAs, Roth IRAs, 401(k)s, annuities, and employer-sponsored plans.
Article: TCP CPA Exam: Understanding the Advantages and Disadvantages of Different Qualified Retirement Plans
Demonstrate an understanding of the risks associated with different investment options, including equity securities, corporate bonds and municipal bonds.
Article: TCP CPA Exam: Understanding the Risks Associated with Different Investment Options Such as Equity Securities and Corporate and Municipal Bonds
Demonstrate an understanding of planning for funding post-secondary education, including qualified tuition programs, student loans, grants and scholarships.
Article: TCP CPA Exam: How to Plan for Funding Post-Secondary Education Including Qualified Tuition Programs, Student Loans, Grants, and Scholarships
Explain how insurance is used in planning to mitigate risk, including life insurance, long-term care insurance and umbrella policies.
Article: TCP CPA Exam: Understanding How Insurance is Used in Planning to Mitigate Risk, Including Life Insurance, Long-Term Care Insurance, and Umbrella Policies
Demonstrate an understanding of the implications of legal ownership of an asset and beneficiary designations on an estate and its beneficiaries.
Article: TCP CPA Exam: Understanding the Implications of Legal Ownership of an Asset and Beneficiary Designations on an Estate and Its Beneficiaries
Prepare a schedule to be used in the decision-making process to select a retirement plan from different options given a specific planning scenario, identifying the related advantages and disadvantages.
Article: TCP CPA Exam: How to Prepare a Schedule to Make Decisions on Selecting a Retirement Plan from Different Options Given a Specific Planning Scenario
Calculate the return on investment (ROI) for different investment options, net of the tax impact, given a specific planning scenario.
Article: TCP CPA Exam: How to Calculate the Return on Investment for Different Investment Options Net of Tax Impact, Given a Specific Planning Scenario

Area II – Entity Tax Compliance (30–40%)

Skill
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
A. C corporations
1. Net operating and capital loss utilization Recall the limitations on the use of net operating losses when there is an ownership change.
Article: TCP CPA Exam: Understanding the Limitations on the Use of Net Operating Losses When There is an Ownership Change
Calculate the amount of a C corporation’s net operating loss for a given year and the related carryforward or carryback.
Article: TCP CPA Exam: How to Calculate the Amount of a C Corporation's Net Operating Loss for a Given Year and the Related Carryforward or Carryback
Calculate the amount of a C corporation’s capital loss utilized in the current year and the related carryforward or carryback.
Article: TCP CPA Exam: How to Calculate the Amount of a C Corporation's Capital Loss Utilized in the Current Year and the Related Carryforward or Carryback
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
2. Transactions between a shareholder and a C corporation (contributions to and distributions from a corporation and loans) Calculate a shareholder’s tax realized and recognized gain (loss) on the contribution of noncash property to a C corporation, and the C corporation’s basis in the property contributed.
Article: TCP CPA Exam: How to Calculate a Shareholder's Tax Realized and Recognized Gain or Loss on Contributed Property to a C Corporation, and the Corporation's Basis
Calculate the tax realized and recognized gain (loss) for both a C corporation and shareholders on a nonliquidating distribution of noncash property, and the shareholders’ basis in the property received.
Article: TCP CPA Exam: How to Calculate the Tax Realized and Recognize Gain for Both a C Corporation and Shareholders on a Nonliquidating Distribution of Noncash Property
Calculate the tax realized and recognized gain (loss) for both a C corporation and shareholders on a liquidating distribution, and the shareholders’ basis in the property received.
Article: TCP CPA Exam: How to Calculate the Tax Realized and Recognized Gain for Both a C Corporation and Shareholders on a Liquidating Distribution
Calculate the amount and treatment of the cash distributions to shareholders in excess of a C corporation’s current and accumulated earnings and profits (E & P).
Article: TCP CPA Exam: Calculating the Treatment of the Cash Distributions to Shareholders in Excess of a C Corporation's Current and Accumulated Earnings and Profits
Review loan documents and supporting documentation to determine the tax implications of a loan between a shareholder and C corporation, including imputed interest.
Article: TCP CPA Exam: How to Review Loan Documents to Determine the Tax Implications and Imputed Interest of a Loan Between a Shareholder and a C Corporation
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
3. Consolidated tax returns Recall the requirements for filing a consolidated federal Form 1120 – U.S. Corporation Income Tax Return.
Article: TCP CPA Exam: Understanding the Requirements for Filing a Consolidated Federal Form 1120
Calculate taxable income for a consolidated federal Form 1120 – U.S. Corporation Income Tax Return, including elimination of intercompany transactions.
Article: TCP CPA Exam: How to Calculate the Taxable Income for a Consolidated Federal Form 1120, Including Elimination of Intercompany Transactions
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
4. International tax issues Explain the sourcing of income for a U.S. corporation with foreign operations.
Article: TCP CPA Exam: Understand the Sourcing of Income for a U.S. Corporation with Foreign Operations
Explain the sourcing of income for a foreign corporation with U.S. operations, including consideration of federal tax withholding requirements.
Article: TCP CPA Exam: Understanding the Sourcing of Income for a Foreign Corporation with U.S. Operations, Including Federal Tax Withholding
Explain the concept of a controlled foreign corporation (CFC) and the impact on a U.S. corporation’s taxable income.
Article: TCP CPA Exam: Understanding the Concept of a Controlled Foreign Corporation and the Impact on a U.S. Corporation's Taxable Income
Explain the concept of permanent establishment for a corporation and the activities that would create it.
Article: TCP CPA Exam: Understanding the Concept of Permanent Establishment for a Corporation and the Activities That Would Create It
Explain the difference between a foreign branch and foreign subsidiary with respect to federal income taxation to a U.S. corporation.
Article: TCP CPA Exam: Understanding the Difference Between a Foreign Branch and Foreign Subsidiary with Respect to Federal Income Taxation to a U.S. Corporation
Explain the requirements related to Interest Charge Domestic International Sales Corporation (IC-DISC), foreign derived intangible income (FDII), base erosion and anti-abuse (BEAT) and global intangible low-taxed income (GILTI).
Article: TCP CPA Exam: Understanding the Requirements Related to Interest Charge Domestic International Sales Corporation, FDII, BEAT, and GILTI
Calculate U.S. and foreign source income given a specific scenario.
Article: TCP CPA Exam: How to Calculate U.S. and Foreign Source Income Given a Specific Scenario
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
B. S corporations
1. Basis of shareholder’s interest Calculate the impact on a shareholder’s stock basis in an S corporation for tax purposes resulting from contributions of noncash property, including an S corporation’s assumption of debt on the contributed property.
Article: TCP CPA Exam: Calculating the Impact to a Shareholder's Stock Basis of Noncash Property Contributions to an S Corporation
Calculate the impact on a shareholder’s stock basis in an S corporation for tax purposes resulting from nonliquidating distributions of noncash property.
Article: TCP CPA Exam: Calculating the Impact to a Shareholder's Stock Basis Resulting from Nonliquidating Distributions of Noncash Property
Calculate the impact on a shareholder’s debt basis in an S corporation for tax purposes resulting from loans made by a shareholder to an S corporation.
Article: TCP CPA Exam: Calculating the Impact on a Shareholder's Debt Basis in an S Corporation for Tax Purposes Resulting from Loans Made to the S Corporation
Review a shareholder’s stock and debt basis schedules in an S corporation for tax purposes and supporting documentation, including any source data used to create the schedule, to determine the accuracy of transactions reflected.
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
2. Transactions between a shareholder and an S corporation (contributions to and distributions from a corporation) Calculate a shareholder’s tax realized and recognized gain (loss) on the contribution of noncash property to an S corporation, and the S corporation’s basis in the property contributed.
Article: TCP CPA Exam: How to Calculate a Shareholder's Tax Realized, Recognized Gain or Loss, and Basis on the Contribution of Noncash Property to an S Corporation
Calculate the tax realized and recognized gain (loss) for both an S corporation and shareholders on a nonliquidating distribution of noncash property, and the shareholders’ basis in the property received.
Article: TCP CPA Exam: How to Calculate the Tax Realized, Recognized Gain or Loss, and Basis for Both an S Corporation and Shareholders on a Nonliquidating Distribution of Noncash Property
Calculate the tax realized and recognized gain (loss) for both an S corporation and shareholders on a liquidating distribution, and the shareholders’ basis in the property received.
Article: TCP CPA Exam: How to Calculate the Tax Realized, Recognized Gain or Loss, and Basis for Both an S Corporation and Shareholders on a Liquidating Distribution
Calculate the allocation of S corporation income (loss) after the sale of a shareholder’s ownership interest in the S corporation for tax purposes.
Article: TCP CPA Exam: How to Calculate the Allocation of S Corporation Income After the Sale of a Shareholder's Ownership Interest in the S Corporation for Tax Purposes
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
C. Partnerships
1. Basis of partner’s interest Calculate the impact on a partner’s basis in a partnership for tax purposes resulting from contributions of noncash property, including a partnership’s assumption of debt on the contributed property.
Article: TCP CPA Exam: How to Calculate Changes to a Partner's Basis in Partnership from Contributions of Noncash Property, Including Assumption of Debt
Calculate the impact on a partner’s basis in a partnership for tax purposes resulting from nonliquidating distributions of noncash property.
Article: TCP CPA Exam: How to Calculate Changes in a Partner's Basis for Tax Purposes from Nonliquidating Distributions of Noncash Property
Calculate the impact on a partner’s basis in a partnership for tax purposes resulting from recourse and nonrecourse partnership debt incurred during the current year, including loans made by a partner to a partnership.
Article: TCP CPA Exam: How to Calculate Changes in a Partner's Basis from Recourse and Nonrecourse Partnership Debt Incurrent, Including Loans Made to the Partnership
Review a partner’s basis schedule in a partnership for tax purposes and supporting documentation, including any source data used to create the schedule, to determine the accuracy of transactions reflected.
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
2. Partnership and partner elections Recall partner elections applicable to a partnership for tax purposes (e.g., partnership tax year, adjustment to basis of property).
Article: TCP CPA Exam: Understanding Partner Elections Applicable to a Partnership for Tax Purposes
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
3. Transactions between a partner and a partnership (services performed by a partner and contributions to and distributions from a partnership) Calculate the tax implications of certain transactions between a partner and partnership (e.g., services performed by a partner) for tax purposes.
Article: TCP CPA Exam: How to Calculate the Tax Implications of Certain Transactions Between a Partner and a Partnership Such as Services Performed by a Partner
Calculate a partner’s tax realized and recognized gain (loss) on the contribution of noncash property to a partnership, and the partnership’s basis in the property contributed.
Article: TCP CPA Exam: How to Calculate a Partner's Tax Realized and Recognized Gain or Loss on the Contribution of Noncash Property, and the Partnership's Basis in the Contributed Property
Calculate the tax realized and recognized gain (loss) for both a partnership and partners on a nonliquidating distribution of noncash property, and the partner’s basis in the property received.
Article: TCP CPA Exam: How to Calculate the Tax Realized and Recognized Gain or Loss for Both a Partnership and Partners on a Nonliquidating Distribution of Noncash Property
Calculate the tax realized and recognized gain (loss) for both a partnership and partners on a liquidating distribution, and the partner’s basis in the property received.
Article: TCP CPA Exam: How to Calculate the Tax Realized and Recognized Gain or Loss for Both a Partnership and Partners on a Liquidating Distribution
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
4. Ownership changes Calculate the allocation of partnership income (loss) after the sale of a partner’s share in a partnership for tax purposes.
Article: TCP CPA Exam: How to Calculate the Allocation of Partnership Income or Loss After the Sale of a Partner's Share in Partnership
Calculate the revised basis of partnership assets due to a transfer of a partnership interest for tax purposes.
Article: TCP CPA Exam: How to Calculate the Revised Basis of Partnership Assets Due to a Transfer of a Partnership Interest for Tax Purposes
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
D. Trusts
1. Types of trusts Recall and explain the characteristics of various types of trusts, including simple trusts, complex trusts and grantor trusts.
Article: TCP CPA Exam: Understanding the Characteristics of Various Types of Trusts, Including Simple Trusts, Complex Trusts, and Grantor Trusts
Recall and explain a trust as a pass-through entity and the roles of grantor, trustee, and beneficiaries and the concept of corpus.
Article: TCP CPA Exam: Understanding a Trust as a Pass-Through Entity and the Roles of Grantor, Trustee, Beneficiaries, and the Concept of Corpus
Recall and explain the characteristics of revocable trusts.
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
2. Income and deductions Identify the allocation of items between income and corpus in a given scenario.
Article: TCP CPA Exam: Understanding the Allocation of Items Between Income and Corpus When Dealing with a Trust
Calculate a trust’s accounting income, distributable net income and taxable income, including the income distribution deduction.
Article: TCP CPA Exam: How to Calculate Trust Accounting Income, Distributable Net Income, Taxable Income, and the Income Distribution Deduction
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
E. Tax-exempt organizations
1. Obtaining and maintaining tax-exempt status Recall the requirements to qualify as an IRC Section 501(c)(3) tax-exempt organization.
Article: TCP CPA Exam: Understanding the Requirements to Qualify as an IRC Section 501(c)(3) Tax-Exempt Organization
Recall the events that would cause an entity to lose its tax-exempt status.
Article: TCP CPA Exam: Understanding the Events That Would Cause an Entity to Lose Its Tax-Exempt Status
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
2. Unrelated business income Recall the different types of unrelated business income for tax-exempt organizations for tax purposes.
Article: TCP CPA Exam: Understanding the Different Types of Unrelated Business Income for Tax-Exempt Organizations for Tax Purposes

Area III – Entity Tax Planning (10–20%)

Skill
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
A. Formation and liquidation of business entities
Prepare a schedule that is used as an input to an entity selection decision that calculates the tax implications of noncash property transactions for multiple entity types.
Article: TCP CPA Exam: Calculate Tax Impact of Noncash Property for Entity Types
Identify the type of business entity that is best described by a given set of legal characteristics.
Article: TCP CPA Exam: Identify Best Business Entity by Legal Characteristics
Derive the tax implications of entity selection and formation decisions across multiple entity types and compare the results.
Article: TCP CPA Exam: Compare Tax Implications of Entity Selection & Formation
Derive the tax implications of entity liquidation decisions across multiple entity types and compare the results.
Article: TCP CPA Exam: Compare Tax Impact of Entity Liquidation Across Types
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
B. Tax planning for C corporations
Calculate the potential tax savings from utilization of net operating and capital loss carryovers.
Article: TCP CPA Exam: Calculate Tax Savings from Net Operating & Capital Losses
Identify opportunities to optimize state and local income tax rules in tax planning for business expansion given a specific scenario, including apportionment of income and location of business.
Article: TCP CPA Exam: Optimize State & Local Tax Rules for Business Expansion
Calculate the effect of changing tax rates and legislation on the timing of income and expense items for tax planning purposes given a specific scenario.
Article: TCP CPA Exam: Calculate Impact of Tax Rate Changes on Timing of Income
Calculate estimated tax payments for a C corporation in order to avoid underpayment penalties given a specific planning scenario.
Article: TCP CPA Exam: Estimate C Corp Tax Payments to Avoid Underpayment Penalty
Derive the tax implications to a shareholder and C corporation for a proposed transaction after formation of the corporation, including noncash property contributions and noncash property distributions.
Article: TCP CPA Exam: Tax Impact of Shareholder & C Corp Noncash Transactions
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
C. Tax planning for S corporations
Calculate the projected amount subject to built-in gains for a proposed disposition of an asset in order to minimize the built-in gains tax due.
Article: TCP CPA Exam: Minimize Built-in Gains Tax for Asset Disposition
Identify the implications of terminating an S corporation election given a specific planning scenario.
Article: TCP CPA Exam: Implications of Terminating an S Corp Election
Derive the tax implications to a shareholder and S corporation for a proposed transaction after formation of the corporation, including noncash property contributions and distributions, and loans and repayment of loans from and to a shareholder.
Article: TCP CPA Exam: Tax Impact of Shareholder & S Corp Noncash Transactions
Derive the tax implications of a contemplated election to treat distributions to shareholders as being made from an S corporation’s accumulated earning and profits (AEP) and not from the accumulated adjustments account (AAA).
Article: TCP CPA Exam: Tax Impact of Distributions from S Corp AEP vs AAA
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
D. Tax planning for partnerships
Calculate the tax implications to a partner for the contribution to a partnership of noncash property that has appreciated or depreciated in value.
Article: TCP CPA Exam: Tax Implications of Partner's Noncash Property Contribution
Calculate the tax implications of various types of payments to a partner, including guaranteed payments and a nonliquidating distribution.
Article: TCP CPA Exam: Tax Impact of Guaranteed Payments & Distributions to Partner
Derive the tax implications to a partner and partnership for a proposed transaction, including a contribution of noncash property, a nonliquidating distribution of noncash property or the sale of a partnership interest.
Article: TCP CPA Exam: Tax Impact of Noncash Property & Partnership Transactions

Area IV – Property Transactions (disposition of assets) (10–20%)

Skill
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
A. Nontaxable disposition of assets
1. Balance sheet/Statement of financial position Calculate the realized gain, recognized gain and deferred gain on like-kind property exchange and involuntary conversion transactions for tax purposes and the basis of the asset received as a result of the transactions.
Article: TCP CPA Exam: Calculate Realized, Recognized, and Deferred Gains on Like-Kind Exchange
Review asset sale and exchange transactions, and relevant supporting documentation, to determine whether they are taxable or nontaxable.
Article: TCP CPA Exam: Determine Taxability of Asset Sales and Exchanges
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
B. Amount and character of gains and losses on asset disposition and netting process
Identify the character of the gain and loss recognized by a taxpayer on the disposal of an asset given a specific scenario.
Article: TCP CPA Exam: Identify Character of Gain or Loss on Asset Disposal
Calculate the Section 1231 capital gain and Section 1231 ordinary loss recognized for tax purposes on the disposition of an asset used in a trade or business.
Article: Calculate Section 1231 Gain and Loss on Business Asset Disposition
Calculate the Section 1245 and Section 1250 depreciation recapture recognized for tax purposes on the disposition of an asset used in a trade or business.
Article: TCP CPA Exam: Calculate Section 1245 and 1250 Depreciation Recapture
Calculate the unrecaptured Section 1250 gain recognized for tax purposes on disposition of an asset used in a trade or business.
Article: TCP CPA Exam: Calculate Unrecaptured Section 1250 Gain on Asset Disposition
Calculate the loss allowed on the disposition of Section 1244 small business stock for tax purposes.
Article: TCP CPA Exam: Calculate Loss on Disposition of Section 1244 Small Business Stock
Calculate the amount of gain recognized on an installment sale.
Review a schedule of asset dispositions for the current year and supporting documentation, including any source data used, to determine the completeness and accuracy of the amount and the character of the gain or loss recognized for tax purposes.
Article: TCP CPA Exam: Review Asset Dispositions for Gain or Loss Accuracy
Review and resolve discrepancies identified by automated diagnostic and validation checks to ensure the completeness and accuracy of the amount and character of a gain or loss reported on a tax return based on the source data used to prepare the return.
Article: TCP CPA Exam: Resolve Discrepancies in Gain or Loss Reporting on Tax Returns
Content group/topic Remembering & Understanding Application Analysis Evaluation Representative Task
C. Related party transactions, including imputed interest
Recall related parties for tax purposes.
Article: TCP CPA Exam: Recall Related Parties for Tax Purposes
Calculate the direct and indirect ownership percentages of corporation stock or partnership interests to determine whether there are related parties for tax purposes.
Article: TCP CPA Exam: Calculate Ownership Percentages to Identify Related Parties
Calculate a taxpayer’s gain or loss on a subsequent disposition of an asset to an unrelated third party that was previously purchased from a related party.
Article: TCP CPA Exam: Calculate Gain or Loss on Sale to Unrelated Third Party from Related Party
Calculate the amount and treatment of imputed interest on related party transactions for tax purposes.
Article: TCP CPA Exam: Calculate Imputed Interest on Related Party Transactions