CPA TCP study plan

Map the individual tax formula from gross income to taxable income, and write a one-page flowchart showing each adjustment, deduction, and credit layer

Compute QBI deductions under the simplified and full methods, and record where the two methods diverge for a specified service trade or business

Reconcile book income to individual taxable income for a sole proprietor with a Schedule C and Schedule K-1 passthrough

Identify at least 15 individual compliance traps (estimated payments, NIIT, additional Medicare tax, kiddie tax) and log them with the triggering fact pattern

Calculate basis, at-risk amount, and excess business loss limits for a partner in a flow-through entity and explain the ordering of the three loss limitation layers

Compute capital gain and loss netting including the 28% and 25% rate groups, and prepare a schedule showing the tax on the resulting net amount

Apply the retirement plan distribution and contribution rules for individuals, including required minimum distributions and early distribution exceptions

Draft a client memo recommending a 2025 tax planning move based on bracket, phaseout, and credit interactions

Trace the C corporation tax formula including the dividends received deduction, charitable contribution limit, and the corporate alternative minimum tax trigger

Compute stock basis and earnings and profits through a series of distributions and distinguish the two where they diverge

Determine the tax consequences of a complete liquidation versus an S election revocation and state which is preferable for a given fact pattern

Compute the accumulated earnings tax exposure and the reasonable needs of the business defense

Compute shareholder basis, AAA, and accumulated adjustments account through distributions, and explain ordering rules for each

Evaluate S corporation eligibility failures including the second class of stock and ineligible shareholder rules, and list corrective actions

Compute built-in gains tax and the net unrealized built-in gain limitation for an entity that converted from C to S

Analyze partnership allocations under section 704(b) and 704(c), including remedial allocation methods and substantial economic effect

Compute basis of property received in a like-kind exchange with boot and describe the deferred gain calculation step by step

Determine recognition on involuntary conversions and installment sales, including the gross profit ratio and the related-party resale rules

Distinguish the tax treatment of a sale of a principal residence from a rental conversion, and compute the exclusion and depreciation recapture

Apply the depreciation and cost recovery rules for MACRS classification, bonus depreciation, and section 179 limits to a multi-asset purchase

Compute gain and loss on the sale of a partnership interest including hot asset ordinary income and the section 754 election effect

Analyze contribution of appreciated property to a partnership and the precontribution gain rules under section 704(c)

Compare the tax results of a stock acquisition versus an asset acquisition for both buyer and seller, including section 338 elections

Evaluate the treatment of worthless securities, section 1244 losses, and the character of gain on the sale of a business with goodwill

Compute the foreign tax credit limitation by basket and apply the allocation and apportionment rules to a simple fact pattern

Analyze the tax consequences of a gift versus a bequest, including basis carryover, stepped-up basis, and the estate tax exclusion

Apply the grantor trust rules and the rules for trust taxation of accumulated vs distributed income

Evaluate the deferred compensation and equity compensation treatment of stock options, restricted stock, and section 409A violations

Complete a full-length timed practice exam under exam conditions and score each domain separately

Re-teach the three weakest topics by writing a plain-language explanation and a worked example for each

Recompute every missed item from weeks 1 through 7 and record the specific rule that was misapplied

Build a final one-page rule summary covering the highest-frequency computations across all four domains