Forms & What They Do
Schedule F
What is a form to report income and expenses of the farming business?
This filing status is available to unmarried individuals who paid more than half the cost of keeping up a home for themselves and a qualifying person.
What is “Head of Household”?
This credit is available to taxpayers who adopt a child and helps cover qualifying adoption expenses, up to a certain limit.
What is the “Adoption Credit”?
This is the typical due date for filing federal income tax returns in the United States for individuals, unless it falls on a weekend or holiday.
What is April 15?
Joel's Current Major which got "Sunset" last year
What is Entrepreneurship
Schedule A
What is a form used to itemize deductions, like medical expenses, mortgage interest, and charitable contributions, instead of taking the standard deduction?
The total amount of your wages, salaries, tips, and other compensation from your W-2 is reported on this line, and what form?
What is line 1, on the 1040?
This deduction is available to self-employed individuals to cover costs related to their home office used exclusively for business purposes.
What is the “Home Office Deduction”?
This form is issued by employers to report wages paid and taxes withheld for employees, providing necessary information for annual tax filings.
What is Form W-2?
What is Asher allergic to?
What is Gluten?
Schedule D
What is a form used for reporting capital gains and losses from the sale of assets like stocks, bonds, or property.
This is the number of filing statuses available for taxpayers to choose from on Form 1040
What is “five”?
This is the maximum amount you can deduct for student loan interest, which is available to eligible taxpayers for the tax year 2023.
What is “$2,500”?
This form allows taxpayers to report dividends and interest income from various sources, including banks and investment accounts.
What is Form 1099-INT or Form 1099-DIV?
The Floor Joel is an RA of in Carlson Hall
What is 2 East
Schedule E
What is a form for reporting supplemental income or loss, such as from rental real estate, royalties, partnerships, S corporations, estates, and trusts.
This is the maximum number of dependents you can claim on Form 1040, specifically listed by name, relationship, and Social Security number.
What is “no limit”?
For tax year 2023, the maximum deduction you can claim for state and local taxes (SALT) is capped at this amount.
What is “$10,000”?
This form is used by students to report educational expenses and potentially qualify for education-related tax credits.
What is Form 1098-T?
Roughly how many shoes does Asher own?
What is 45-50?
Schedule B
What is a form for reporting interest and ordinary dividends if they exceed a certain threshold.
You’ll find this line to report certain types of additional income like unemployment, alimony received, or business income.
What is “Schedule 1”?
Taxpayers can deduct this amount for state and local taxes paid, including income or sales tax, property tax, and certain foreign taxes, up to a cap.
What is the “SALT Deduction” (State and Local Tax Deduction)?
This form is used by estates and trusts to report income, deductions, and distributions to beneficiaries for tax purposes.
What is Form 1041?
When did Joel and Asher meet?