The 1120 Preparation and Planning Guide thoroughly covers the preparation of corporate income tax returns. It provides a comprehensive review of the basic principles of corporate income tax preparation. The provisions of recent legislation that impact the 2006 tax return are highlighted and significant recent court decisions and revenue rulings that affect corporate returns are examined. Module 2 gives step-by-step instructions for completing the deductions section of the 2006 Form 1120, including how to report deductions on Form 1120, Schedule E, and corporate net operating losses. The course alerts practitioners to planning opportunities presented by recent legislation and provides numerous tax-saving suggestions and compliance advice. Topics covered include: