Janice Morgan 2012 Tax Return_T12_For_Records

48 total other expenses to line 27a

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Unformatted text preview: . . . . . . . . . . . . . . . . . 48 VI. PASSIVE ACTIVITY COMPUTATION: Few sole proprietorships are passive activities. But if this one is, we can help with the calculation. Note: To get the passive activity results, fill in column (4). Check our entries in (1) through (3), and override if necessary. Then recalculate the tax return. Everything else is done automatically. This year's unallowed loss appears in column (5). Allowed loss or gain appears in column (6). Column (6) is carried to line 31 above. (1) (2) (3) (4) (5) (6) Is this a Business with Activity's Prior year This year Allowed income passive active net income unallowed unallowed or loss this 0 Not For Filing activity? participation? or loss loss (or 0) loss. year. N N -6,700 0 -6,700 VII. ALTERNATIVE MINIMUM TAX (AMT) WORKSHEET FOR SCHEDULE C Note: Entries in columns (1) and (2) are the same as above. Column (3) includes Alt Min Tax adjustments from the Depreciation Worksheets, the Vehicle Worksheets, and Form 8829. You have to enter the amount in column (4). We calculate columns (5) and (6). Column (6) carries to to Form 6251. You may have to recalculate the return to update these entries. (1) (2) (3) (4) (5) (6) Is this a Business with Activity's Prior year This year Allowed income passive active net income unallowed unallowed or loss this activity? participation? or loss loss (or 0) loss. year. N N -6,700 0 -6,700 END OF PAGE 2 SCHEDULE C (CONT'D) PAGE 3 2012*09 Not For Filing SCHEDULE C (Form 1040) Janice (CONT'D) PAGE 3 Morgan 2012*09 SSN: 123-45-6789 CONTINUATION SHEET FOR PART IV -- INFORMATION ON YOUR VEHICLE Note: The information on this Continuation Sheet carries from the Vehicle Worksheet. If you want to change any of this information, you should change it there. 43. When did you place your vehicle in service for bus. purposes? . . . . . . . . . . . . . . . . . 44. Enter the number of miles you used your vehicle during 2012 for: a. Business: b. Commuting: c. Other: Yes 45. Was your vehicle available for use during o...
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This document was uploaded on 02/09/2014.

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