Other Taxes
Where would find Self-employment tax, Uncollected social security and Medicare tax on wages or tip income not reported to the employer, Additional tax on Individual Retirement Arrangements (IRAs), other qualified retirement plans, etc. Household employment tax, First-time homebuyer credit repayment.
Schedule 2
What is the form that you would submit for social security and Medicare tax on the unreported tips?
Form 4137
Which code would you use on 1099-R for early distribution?
Code J
What is the forms reported for additional tax on Education IRAs?
Form 1099-QA, Form 1099-IA and Form 5498-QA
What does AMT mean?
Alternative Minimum Tax
What is required to show the reporting on Other Taxes?
Supporting Documentation
Which Schedule and line would Unreported Social Security and Medicare Tax reported on?
Schedule 2 and line6
Taxable income from pensions and annuities are reported on which form?
Form 1099-R
Which Schedule would be used to report the ESA, QTP, 529 Plan or ABLE account?
Schedule 1
For the First-Time homebuyer Credit, how many installments are they supposed to pay back?
15 equal annual installments
Who is subject to Self-Employment Tax?
Sole Proprietor and Independent Contractor
On the Schedule SE which line would you put Church employee income?
Line 5a
Which age would you need to be to be withdrawn without penalties?
59 1/2
For the year 2023-2032 taxpayer reached applicable age for the age to begin required minimum distribution?
73
For a Married Filing Separately, for Additional Medicare Tax (AdMT) reported on what form, schedule and line?
Form 8959, Schedule 2 line 11
What is the form you find self-employed on?
Form 1099-MISC and Form 1099-NEC
What is the limitations on Social Security Tax for 2023?
$160,200
What is the code 2 mean on form 1099-R?
Early Distribution
Would taxpayer send in the attachment of explanation with the form 5329 waiver? (True or False)
True
Section 965 Taxes requires certain taxpayers to pay, what is the IRC?
IRC 965
Form 4361
Would Self-employed income and transfer to Schedule 2? (True or False)
True
What are the three types of educations IRAs?
Coverdell Education Savings Account (ESA), Qualified Tuition Programs (QTP & 529 Plans), and Achieving a Better Life Experience (ABLE)
Taxpayer does not have to sign form 5329 for it to be considered a complete and correct tax return? (True or False)
False
What Form is used to report the Inclusion of Deferred foreign Income?
Form 965