Table of Contents. Preliminary Work and General Filing Requirements... 1

Similar documents
Table of Contents. Overview Filing Status... 35

Table of Contents EA Exam Part

Preparing 2016 Individual Income Tax Returns

Preparing 2018 Individual Income Tax Returns

AARP FOUNDATION TAX-AIDE SCOPE MANUAL WHAT S IN WHAT S OUT

Sign Here Joint return? See instructions. Keep a copy for your records.

COMPREHENSIVE TAX COURSE

Panex 1040 Individual - Spouse Home address (number and street). If you have a P.O. box, see instructions.

Internal Revenue Service. Enrolled Agent Exam Part ONE. Exam Year May 1, 2017 February 28, Table of Contents

Prepare, print, and e-file your federal tax return for free!

SCHEDULE NR (Rev. 7/12/16)

1040 U.S. Individual Income Tax Return 2017

The VITA TaxSlayer Map

1040 U.S. Individual Income Tax Return 2017

status: Single n X Married filing jointly Married filing separately Head of household Qualifying widow(er)

See separate instructions. Your social security number RIGHT ANGLE XXX-XX-XXXX If a joint return, spouse's first name and initial

Carol's Tax Return-2016 Tax Year. Part 2. Compute income tax

U.S. Nonresident Alien Income Tax Return

DUAL-STATUS RETURN U.S. Nonresident Alien Income Tax Return LEE F DUT X. MN Foreign province/county

SALLY W EMANUEL If a joint return, spouse's first name M.I. Last name Suffix Spouse's social security number

TOOLS AND TECHNIQUES OF INCOME TAX PLANNING 3 RD EDITION

U.S. Nonresident Alien Income Tax Return

5 Qualifying widow(er) (see instructions) 6a Yourself. If someone can claim you as a dependent, do not check box 6a...

INVOICE. PN 501 E 38th Erie, PA Phone: (207) Date: 12/07/2017 Invoice Number: Service Description

Certain Cash Contributions for Typhoon Haiyan Relief Efforts in the Philippines Can Be Deducted on Your 2013 Tax Return

You Spouse 1 Single. name here.. G 5 Qualifying widow(er) with dependent child

Income. Adjusted Gross Income. Hader If a joint return, spouse s first name and initial Last name Spouse s social security number

Appendix B Pali Rao, istockphoto

Section 1202 Qualified Small Business Stock: Maximizing Tax Advantages of Gain Exclusion and Deferral

1040 Department of the Treasury Internal Revenue Service (99)

Federal Individual Income Tax Terms: An Explanation Mark P. Keightley Specialist in Economics. May 31, 2017

DO NOT FILE THIS FORM IN 2019 WITH YOUR TAX RETURN

Tax Withholding and Estimated Tax

U.S. Nonresident Alien Income Tax Return

Filing status: Single Married filing jointly Married filing separately Head of household Qualifying widow(er)

See separate instructions. Your social security number RIGHT ANGLE If a joint return, spouse's first name and initial

IRS RETURN PREPARER TEST SPECIFICATIONS

OUT OF SCOPE - VITA 2017 TAX YEAR The following are out of scope. While this list may not be all inclusive, it is provided for your awareness only.

CHAPTER 2 GROSS INCOME AND EXCLUSIONS

WHAT S NEW IN TAXES FOR 2016 by Robert D Flach, the internet s Wandering Tax Pro

Tax. and Estimated Tax. Contents. For use in. Introduction. Publication

, ending. child tax credit (1) First name Last name

ACC 131 FEDERAL INCOME TAXES

Overview of the Tax Structure

2016 Federal Income Tax Planning

REPORTING YOUR INCOME

Taxpayer Questionnaire

2017 INCOME AND PAYROLL TAX RATES

CHAPTER 2 GROSS INCOME AND EXCLUSIONS

A & B Office. Education Benefits. A Self-Improvement Mini-Course. Student Loan Interest & Education Expenses. Income Tax Training School

U.S. Nonresident Alien Income Tax Return. Of what country were you a citizen or national during the tax year?

OVERVIEW OF THE FEDERAL TAX SYSTEM AS IN EFFECT FOR 2013

Form 1040-V. Department of the Treasury. Internal Revenue Service $ 3, Dave Dave Sarah Sarah Terrace Glenview, IL 60001

DIVISION OF REVENUE AND TAXATION COMMONWEALTH OF THE NORTHERN MARIANA ISLANDS CNMI Nonresident Alien Income Tax Return

Taxation of: U.S. Foreign Nationals

Using the Tax Return to Determine the Real Income of the Estate. Larry Settles, CPA/ABV, etc. Investigative Account January 10, 2018

e-pocket TAX TABLES 2017 and 2018 Quick Links: 2017 Income and Payroll Tax Rates 2018 Income and Payroll Tax Rates Corporate Tax Rates

Client Organizer Topical Index

Bob Smith Betty Smith Home address (number and street). If you have a P.O.box, see instructions. J Important!

City... State... ZIP Code... Home phone... Fax number... Name Address ID Number Amount Paid. Enter total 2013 qualified student loan interest...

social security number relationship to you Add numbers on d Total number of exemptions claimed... lines above

Quick Facts. Comprehensive Calculations. Prior Year Comparisons Software Updates Delivered Online Alerts Ability to Returns to Support

CHAPTER 12 TAX RETURN ASSIGNMENT

5 Qualifying widow(er) with dependent child 6a Yourself. If someone can claim you as a dependent, do not check box 6a...

Tax Strategies Sales Kit

COVER PAGE. Filing Checklist For 2008 Tax Return Filed On Standard Forms. Prepared on: 01/13/ :55:49 am

IRS RETURN PREPARER TEST SPECIFICATIONS

Personal Information

Tax Strategies SALES KIT. In this kit: 1040 overlay guide Tax strategy guides Consumer brochures

Questions. Please check the appropriate box and include all necessary details and documentation.

Personal Information

2017 Summary Organizer Personal and Dependent Information

Brackets (seven) - Taxable Income Single Filers. Between $9,525 and $38,700. Between $2,550 and $9,150. Between $157,500 and $200,000

WAHL, WILLEMSE & WILSON, LLP CERTIFIED PUBLIC ACCOUNTANTS 2018 TAX ORGANIZER

Individual Income Tax Organizer 2016

2015 Client Organizer

T. Rowe Price Traditional and Roth IRA Disclosure Statement and Custodial Agreement T. Rowe Price Privacy Policy

Questions. Please check the appropriate box and include all necessary details and documentation.

Overview of the Tax Cuts and Jobs Act

Year End Tax Planning for Individuals

T. Rowe Price Traditional and Roth IRA Disclosure Statement and Custodial Agreement T. Rowe Price Privacy Policy

2018 Tax Planning & Reference Guide

Table of Contents. Final

CHAPTER 2 GROSS INCOME AND EXCLUSIONS

Form 8621 Increase in Tax and Interest Calculations

PSK LLP 3001 MEDLIN DR STE 100 ARLINGTON, TX Client Organizer

CHECKLIST OF ITEMS THAT MAY AFFECT YOUR 2018 TAX RETURN

2017 Summary Organizer Personal and Dependent Information

SCHEDULE C AUDIT RISKS

U.S. Individual Income Tax Return 2013 OMB No IRS Use Only- Do not write or staple in this space.

Miscellaneous Information

2017 Federal Income Tax Planning

U.S. Return of Partnership Income

JOSEPH COHEN If a joint return, spouse's first name and initial Last name Spouse's social security number

JOHNSON, MILLER & CO., CPA s Certified Public Accountants A Professional Corporation An Independent Member of BDO Alliance USA

2018 TAX ORGANIZER. This tax organizer has been prepared for your use in gathering the information needed for your 2018 tax return.

2015 Tax Organizer Personal and Dependent Information

e-pocket TAX TABLES 2014 and 2015 Quick Links:

Page 3 PERSONAL INFORMATION. Did your marital status change during the year?

Figuring your Taxes and Credits

Transcription:

Table of Contents Preliminary Work and General Filing Requirements.... 1 General Requirement to File...3 Signatures....4 Marital Status...6 Married....6 Unmarried....7 Filing Status...7 Single....7 Married Filing Jointly....8 Qualifying Widow(er) With Dependent Child.... 9 Married Filing Separately...9 Head of Household...11 Age....15 Residency....16 Resident Alien....16 Nonresident Alien...18 Dual-status Alien....19 U.S. or Foreign Source Income.... 20 Interest....20 Dividends...21 Transportation Income....21 Personal Services....21 Scholarships, Grants, Prizes, and Awards.... 22 Pension and Annuities....23 Rents and Royalties...23 Real Property...23 Personal Property....23 Exclusions from Income...24 Income Categories for Nonresident Alien...25 Identification Number...27 IP Pin...28 Exemptions....28 Personal Exemption...28 Dependency Exemption...29 Exemption Phase-out....40 NATP xi

Standard Deduction...41 Dependent s Standard Deduction....41 No Standard Deduction....43 Individuals Required to File...43 Dependents...44 Decedents................................................. 46 Other Filing Requirement Situations....47 Kiddie Tax....50 Child Filing a Return...50 Parent s Election to Report Child s Interest and Dividends............. 51 Due Dates....53 Form 1040...53 Form 1040-NR and 1040NR-EZ....55 Tax Return Penalties....56 Late Filing....56 Late Payment....56 Accuracy-related Penalty....56 Filing an Erroneous Claim...57 Frivolous Tax Submission...57 Failure to Supply SSN....57 Criminal Penalties....57 General Filing Review Questions....59 General Filing Review Answers....63 Income and Assets.... 69 Income....69 Wages, Salaries, and Other Earnings.... 72 Interest Income....94 Dividends and Other Corporate Distributions....103 Rental Activity....112 Real Estate Professional...124 Royalty Income...124 Gambling...125 Debt Forgiveness Income....129 Foreign Earned Income...133 Other Income...140 xii NATP

Income Review Questions....157 Income Review Answers....163 Retirement Income....169 Individual Retirement Account...169 Roth IRAs....191 Retirement Plans, Pensions, and Annuities.... 196 Loans from 401(k) Plans.... 207 myra....208 Social Security and Equivalent Railroad Retirement Benefits....210 Foreign Pensions....215 Retirement Income Review Questions....217 Retirement Income Review Answers....221 Real and Personal Property....225 Basis of Assets....225 Sales and Other Dispositions....240 Holding Period...249 Capital Gains and Losses....250 Installment Sales....265 Sale of a Principal Residence....276 Real and Personal Property Review Questions....285 Real and Personal Property Review Answers...289 Adjustments to Income....295 Educator Expenses....295 Business Expenses of Reservists, Performing Artists, and Fee-basis Officials...295 Health Savings Account....296 Moving Expenses....297 Self-employment Tax....301 Self-employed SEP, SIMPLE, and Qualified Plans....302 Self-employed Health Insurance...303 Penalty on Early Withdrawal of Savings....304 Alimony....304 IRA Deduction....306 Student Loan Interest Deduction....306 Tuition and Fees Deduction....307 Domestic Production Activities Deduction....309 NATP xiii

Line 36 Write-in Adjustments....310 Adjustments to Income Review Questions....313 Adjustments to Income Review Answers....319 Deductions and Credits.... 325 Itemized Deductions....325 Medical and Dental Expenses....325 Taxes...328 Interest Expense....332 Charitable Contributions....342 Casualty and Theft Losses...352 Nonbusiness Bad Debts....358 Transportation and Other Employee Business Expenses....359 Employee s Educational Expenses....376 Miscellaneous Itemized Deductions....380 AGI Limitation on Itemized Deductions...384 Nonresident Itemized Deductions....385 Deductions Review Questions....387 Deductions Review Answers....391 Notes...396 Credits...397 Nonrefundable Credits....397 Refundable Credits....423 Tax Credits For Nonresident Aliens...433 Credits Review Questions....437 Credits Review Answers....441 Taxation and Advice.... 445 Alternative Minimum Tax....445 AMTI Adjustments and Preferences....446 Tax Credits Allowed to Offset AMT...447 Minimum Tax Credit...448 MTC Calculation....448 MTC Limitation....449 Excess Advanced Premium Tax Credit Repayment....449 Self-employment Tax....449 Clergy or Religious Order....450 xiv NATP

Other Taxes....451 Unreported Social Security and Medicare Tax....451 Additional Tax on IRAs and Other Qualified Plans...452 Household Employees....452 First-time Homebuyer Credit Repayment....455 Individual Shared Responsibility....455 Additional Medicare Tax...459 Net Investment Income Tax....460 Tax Withholding....460 Job Related....461 Pension and Annuity....462 Gambling Winnings....463 Unemployment Compensation...463 Federal Payments....463 Backup Withholding...464 Estimated Tax....464 Underpayment...466 Amended Returns and Claim for Refund....468 Injured Spouse...469 Innocent Spouse....470 Form 911...473 Taxation and Advice Review Questions...475 Taxation and Advice Review Answers....479 Specialized Returns for Individuals... 483 Estate Income Taxes....484 Income and Deductions in Respect of a Decedent...484 Retirement Accounts....486 Deductions....492 Estate Tax Paid on IRD....492 Life Insurance....493 Gifts and Inheritances....494 Returns for Decedents...494 Income Tax Return...495 Form 1040...495 Form 1041...500 NATP xv

Distributions to Beneficiaries from an Estate...507 Termination....510 Estate Income Tax Review Questions...513 Estate Income Tax Review Answers...517 Transfer Tax....523 Applicable Credit Amount....523 Estate Tax Return....523 Gross Estate....524 Estate Valuation....525 Taxable Estate....527 Time to File and Pay....531 Gift Tax....533 Annual Exclusion....536 Filing....537 Joint Tenancy...538 Gift Splitting....539 Valuation....540 Form Completion...541 Special Rules...542 Generation-skipping Transfer Tax...543 Transfer and Gift Tax Review Questions...545 Transfer and Gift Tax Review Answers....549 Foreign Account and Asset Reporting....555 Form 8938...555 FinCEN Form 114....556 Appendix... 559 Appendix A: Worksheets.... 559 Appendix B: Forms.... 567 Appendix C: Formulas.... 579 xvi NATP

2024 © financedocbox.com Privacy Policy | Terms of Service | Feedback