Are you on Schedule?
This schedule is used for Profit/Loss from Farming
What is Schedule F?
Use this line to report wages from a W-2 Box 1.
What is Line 1a?
This is used to find tax on the Tax Tables.
What is Line 15 or taxable income?
To qualify for head of household a taxpayer must meet these 2 qualifications.
What is unmarried and has one or more dependents?
Mary owes $200 in taxes and had $1,000 withheld from her paychecks. Refund or not?
What is a refund?
This schedule is used for interest and dividends greater than $1500.
What is Schedule B?
This line is used to report taxable Income.
What is Line 15?
Interest and dividends are considered income, tax or payments.
What is reportable income?
Standard deduction for QSS is the same as this filing status.
What is Married Filing Jointly?
Joe's W-2 Box 2 shows $1600 and his 1040 line 16 is $900. Refund or not?
What is a refund? Joe will receive a refund of $700.
This is a schedule used by business owners.
What is Schedule C?
This line shows the standard deduction.
What is Line 12?
True or False? Choosing the Presidential Election Campaign Fund box reduces your refund.
What is False?
The 2 MOST common forms that show annual earnings and federal withholding tax.
What are W-2 and Form 1099?
Kelly and Jim (MFJ) had $200 and $300 withheld from their pay checks. Their tax liability is $900. Refund or Not?
What is NOT? They owe $400.
This schedule is used to report Lottery winnings.
What is Schedule 1?
This line is used for Federal tax withheld from a W-2.
What is Line 25a?
AGI stands for this.
What is adjusted Gross Income?
The difference of these indicates a refund or if you owe taxes.
What is taxes you owe and taxes you paid?
Or Lines 24 and 33 on Form 1040.
Jamie has no taxes due this year because he earned less than the standard deduction. His W-2 box 2 shows $100. Refund or not?
What is a refund? Jamie had $100 withheld and owes $0, so he will receive a $100 refund.
This schedule is used to report tips that are not recorded on a W-2.
What is Schedule 2?
This line is used for the amount you owe on your tax return.
What is Line 37?
True or False? Taxpayers over 65 receive a greater standard deduction than those under age 65.
What is True? They receive additional standard deductions of $1,550 or $1,950, depending on filing status.
This is where retired individuals report their income.
What is line 5-Pensions and Annuities and line 6-Social Security benefits?
or
What is side 1 Income section of Form 1040?
Mark is a business owner and is due a refund this year of $1,500. He has delinquent student loans. Refund or Not?
What is NO Refund? The federal government can take his refund for payment of the student loans.