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2.0 Credits

This two-hour course covers the basic tax rules of individual retirement accounts and examines the creation of, contributions to, and distributions from the IRA that is not a Roth IRA.


  • Describe the various types of IRAs, the qualification requirements for IRAs, and the reporting and disclosure requirements of IRA owners
  • Discuss the general rules and limitations regarding contributions
  • Explain the federal income-tax rules applicable to IRA distributions and the basis-recovery rules
  • Summarize the 10-percent early distribution rules
  • Discuss the income-tax-planning opportunities with IRAs

Major Topics

  • What structure and operational rules are required to qualify the account?
  • What investment restrictions apply to an IRA?
  • What transactions involving an IRA are prohibited?
  • What amounts may be contributed and deducted?
  • How are distributions from an IRA taxed?
  • When are distributions premature, and how can the penalty tax be avoided?
  • What planning opportunities are available?

Designed For

CPAs who want to learn about this key area of practice and all of the planning options available

You will receive an email from Surgent CPE with instructions to download this product.