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Schedule 1-A: Implementing Important OBBBA Deductions for 2025 (SHA2)

Wednesday, February 18, 2026
10:00 AM - 12:00 PM (Eastern)

Mike Tucker, Ph.D., LL.M., J.D., CPA

Karen Davis, EA, MBA, Ph.D.

Edward Renn, Esq.

  • Format Webinar
  • Credits 2.00
  • Level Basic
  • Field of Study Taxes (2)
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$119.00


Overview

Schedule 1-A is a new tax form designed to consolidate four key OBBBA deductions that can be taken for the first time in 2025. Ultimately these four deductions: the tip deduction, the overtime deduction, the deduction for interest paid on a new car loan, and the senior deduction, appear as a single entry on line 13b of Form 1040. These deductions are phased out at higher income levels, the calculation of which takes place on Schedule 1-A. Accounting and finance professionals who wish to understand the mechanics of the four deductions and how they are expressed on Schedule 1-A and consolidated on Form 1040 would benefit from taking this program.

Major Topics:

  • Purpose and organization of Schedule 1-A, Form 1040
  • Taxpayers who can use Schedule 1-A
  • The relationship of Form 1040 and Schedule 1-A
  • Calculating modified adjusted gross income (MAGI) on Part I, Schedule 1-A
  • The tip deduction, calculated on Part II, Schedule 1-A
  • The overtime deduction, calculated on Part III, Schedule 1-A
  • The car loan interest deduction, calculated on Part IV, Schedule 1-A
  • The senior deduction, calculated on Part V, Schedule s1-A
  • Phase-outs at higher levels of income

Learning Objectives

  • Implement the most common OBBBA changes for tax year 2025 using the new Schedule 1-A

Who should take this course:

Accounting and finance professionals who will be advising clients regarding new OBBBA deductions that will be taken for the first time in tax year 2025

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