2021 Individual Retirement AccountsCode: 21-IRA

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Course Details

102 pages

Course description and objectives:

Individual retirement accounts are investing tools that permit individuals to set aside money for retirement in a way that is preferential from a tax tandpoint. This course will review the following types of IRA account types: Traditional IRAs, Roth IRAs, SIMPLE IRAs and SEP IRAs. This course will describe who is allowed to open and contribute to an IRA account during the taxable year. This course will identify when contributes are deductible and when they are not deductible. This course will describe the time allowed to rollover distributions and the ramifications of not completing rollovers within the allotted time. Finally, this course will describe when taxpayers are permitted to take distributions from an IRA account.

Course Objectives

At the end of this course, students will be able to:

  • Identify the requirements for serving as a trustee for an IRA account.
  • Recognize the requirements for opening a traditional IRA account.
  • Recognize the maximum contribution that can be made by a taxpayer to an IRA account.
  • Calculate the amount of for a partial deduction to an IRA account.
  • Identify when a taxpayer must start receiving distributions form an IRA account.
  • Calculate the amount of minimum distributions from an IRA account.
  • Recognize prohibited transactions for an IRA account.
  • Recognize the maximum contribution that can be made by a taxpayer to a Roth IRA account.

Presentation Method:   Self-Study

 

Category:  Taxes

CPE credit:  4 Hours

Program Level:  Update

Prerequisites:  None

Advance Preparation:  None

Exam expiration date:  Participants must submit exams for grading within one year from the date of purchase

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IRA's Course
I took the course and learned many details that were previously hidden in the law. The course is well-structured so that the concept is presented, the analysis is given and the code sections supporting them are presented.
Mike O'Rourke
05/01/2019
Verified Buyer
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American CPE, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

 

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