C11-Chp-01-Form 1040-Sound-PP-2010-File-4-Ded

C11-Chp-01-Form 1040-Sound-PP-2010-File-4-Ded - Our last...

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Chapter 1. File 4 An Overview Form 1040 Updated January 17, 2011. Slides are not numbered – If you print six slides per page, read left to right, then down to next line of slides. C11-Chp-01-Form 1040-Sound-PP-2010- File-4
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This PowerPoint presentation is divided into multiple files, because adding sound causes the file size to be much bigger. This is File 4. Slides with sound show a yellow picture of a speaker. You can click on that speaker and hear some explanation from instructor.
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Instructor – Howard Godfrey Professor of Accounting-UNC Charlotte File 4 Click speaker for voice.
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Please review the following two documents before viewing this presentation. 1.Handout C11-Chp-01-3-Tax Problem and Return Preparation. 2.Form 1040 and Schedule A. Available for download at www.IRS.gov 3.Also have your Code book.
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In preceding slide presentations, we have discussed many tax rules applicable to reporting of income on page 1 of Form 1040.
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Unformatted text preview: Our last segment was on determining Adjusted Gross Income, which is reported on the last line of page 1 of Form 1040 and carried to the first line of page 2 of Form 1040. Please take a look now. Page 2 – 1040 Sec. 63(a), (b) & (c)(3). 151(d) (1) Page 2 - 1040 Schedule A §213 Medical Expenses §164 Taxes Paid §163 Interest Paid §170 Charitable contributions §165 Casualty Losses §162, 212 Miscellaneous Item. Ded. Sch. A-Medical. Sec. 213 See handout, assume Pam also paid uninsured doctor bills of $5,000. How much is her net med. deduction? Sch. A-Taxes Paid – Sec. 164 Sch. A-Interest- Sec. 163 Sch. A- Charity-Sec. 170 Sch. A- Misc. Itemized Page 2. Credits Page 2. Other Taxes See Sec. 1401, 1402 Tax refund or tax due Taxpayers hope that the math leads to a refund on line 74 End This concludes this series of slides on using the Code. I hope you have found them to be helpful....
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C11-Chp-01-Form 1040-Sound-PP-2010-File-4-Ded - Our last...

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