Refund Tax Year: | Taxpayer's Name: | ||||
Filing Status:
Dependents: |
|
TP was 65 or older,
TP was blind
SP was 65 or older, SP was blind | |||
Dependent on another taxpayer's return | |||||
Must itemize because spouse itemized |
State income tax refund amount: | Refund due to overpayment of state income tax that was used as a deduction on Schedule A
| |
Sales tax refund amount: | Refund due to a refund of sales tax paid on an item that was used to augment the state sales tax deduction on Schedule A (return of a car or boat, for example - very rare event) | |
Real estate tax refund amount: | Refund or rebate of state real estate taxes used as a deduction on Schedule A
Check if this refund IS taxable to the state or will be deducted on the state return. | |
Medical refund amount: | Repayment of expenses by insurance or other reimbursement for medical expenses used as a deduction on Schedule A |
Salary and wages: | ||
Business income: | ||
Standard deduction: | (Calculated) |
Adjusted gross income: | From TBD | |
Check this box if you don't have access to the QBI worksheet (Form 8995) |
Business income: | From TBD | |
SE Tax Adjustment: | (Calculated) | |
SE SEP/SIMPLE Adjustment: | From TBD | |
SE Health Ins Adjustment: | From TBD | |
Positive Capital Gains income: | From TBD | |
Qualified Dividend income: | From TBD | |
Dividend/K1 199A income: | From K1 and dividend statements |
Maximum QBI deduction: | TBD | |
Net capital gains: | TBD | |
Current QBI deduction: | TBD | |
Additional QBI deduction: | ||
Taxable amount of the refund after this test: TBD |
Adjusted gross income: | From TBD | |
Exemption amount: | ||
Negative income recovered: | (Calculated) | |
Additional QBI deduction: | (Calculated from business and 199A dividend income) | |
Taxable amount of the refund after this test: TBD |
Original amounts: | ||
Revised tax amount: | (Calculated - new maximum for non-refundable credits) | |
Total non-refundable credits: | From 1040 line TBD |
Enter the maximum amount of non-refundable credits from the forms on which they are calculated. HINT 1: If there is a credit shown, all credits prior to that one are the maximum - no need to hunt for them. HINT 2: Start with CTC and Ed credits first - they usually have the most effect. | ||
Maximum amounts: | ||
Foreign tax credit: | Form 1116 | |
Credit for care expenses: | From Form 2441 line 9 | |
Credit for the elderly: | From Schedule R line 20 | |
Education credits: | From Form 8863 lines 9 + 18 | |
Retirement savings credit: | From Form 8880 line 10 | |
Residential energy credit: | From Form 5695 line 13 | |
Child/dependent tax credit: |
AGI:
From
Dep < 17: Number of dependents aged 16 or less, or disabled (including < age 6) Dep < 6: Number of dependents under 6, or disabled Dep > 16: Number of other dependents | |
New total non-refundable credits: | (Calculated) | |
Non-refundable amount gained: | (Calculated) | |
Pre-tax amount gained: | ||
Taxable amount of the refund after this test: TBD |
(Calculated) May include Q4 estimated payment if paid prior to 12/31. | ||
Note: this may not be fully deductible. See results below. | ||
State income tax refund allocation: | ||
Federal taxable amount of refunds. : | ||
1040 line 10 | (TS Income > Form 1099-G Box 2 >
Bypass worksheet line) | |
Federal taxable amount of refunds also taxable to the state: | ||
1040 line 21 | (TS Income > Other Income) | |
4th quarter estimated payment: | ||
Part of Sched A line 5a | (Federal Section > Deductions & Itemized Deductions > Taxes You Paid > Prior Year 4th Quarter...) |