4491-W-C Kent Refund Monitor TY2011
Filing Status: Married filing jointly
12-09-2011 v1-2b
Errata – Fix before doing problem
Problem |
Page |
Location |
Change From: |
Change To: |
Logic |
Kent |
|
|
|
|
|
Step |
TP Form/ |
TW Form |
Payee/Name |
Fed 37 |
Fed 74/76 |
4012 |
Notes |
1 |
Intake etc. |
|
|
|
B-1 |
Hint: Use 4012 to find Filing Status |
|
2 |
W-2 |
Jefferson Independent School |
13,817 |
5081 |
2-3 |
|
|
3 |
W-2 |
Americus Petroleum |
41,951 |
3,090 |
2-3 |
|
|
4 |
Text |
Campbell Mortgage |
44,733 |
2,815 |
2-4 |
|
|
5 |
1099-INT |
Kendall Federal Credit Union |
45,143 |
2,775 |
2-5 |
|
|
6 |
1099-INT |
Gordon Investments |
45,143 |
2,775 |
2-5 |
|
|
7 |
Broker Stmt |
ZYX Investments |
47,721 |
2,760 |
2-5 |
|
|
8 |
Broker Stmt |
ZYX Investments |
48,022 |
2,764 |
2-6 |
May need to add 1116 |
|
9 |
Text |
Still red - resolve |
48,022 |
2,764 |
|
||
10 |
1099-G |
State Income Tax Refund |
48,459 |
2,719 |
Link to St Tax Refund from |
||
11 |
Text plus |
Pratt Medical etc. |
50,669 |
2,101 |
2-8 |
Hint: Be sure to link to 1099-MISC |
|
12 |
1099-B |
Pelrum Brokerage Service |
49,370 |
2,289 |
2-11 |
BP: Deal with 8949 now Hint: Using Code “I” for commission |
|
13 |
Broker Stmt Text |
ZYX Investments |
47,600 |
2,507 |
2-11 |
BP: Deal with 8949 now |
|
14 |
1099-R |
Saulk Trust Company |
48,438 |
2,422 |
2-17 |
|
|
15 |
1099-R |
Yale Security IRA |
48,438 |
2,422 |
2-17 |
BP: Deal with Rollover explanation now |
|
16 |
1099-R |
DFAS Military Retirement Pay |
49,638 |
2,244 |
2-17 |
Hint: See NJ Special Handling BP: What to do if box 2a blank?? |
|
17 |
1099-R |
Stillman Pension Fund |
67,928 |
1,221 |
2-17 |
Hint: Don’t worry about combined age if |
|
18 |
K-1 |
Black Jack Production |
68,978 |
1,064 |
2-21 |
Assume no required 1099 pmts Hint: Special Topic document currently |
|
19 |
1099-G |
Indiana Unemployment Comm |
71,528 |
801 |
|
|
|
20 |
SSA-1099 |
Social Security |
83,158 |
(586) |
2-19 |
BP: Use Scratch Pad for Part B + Part D |
|
21 |
W-2G |
Lottery Board |
84,358 |
(766) |
|
Hint: Add W2G if necessary BP: Include gambling losses here |
|
22 |
Text |
Classroom supplies |
84,108 |
(729) |
|
Hint: See 1040 Wkt2 instructions on how |
|
23 |
Text |
Alimony paid |
80,508 |
(189) |
|
Hint: Ok to enter on line 1040 line 31 Hint: Don’t worry about red on |
|
24 |
Text |
IRA contribution |
74,508 |
711 |
|
|
|
25 |
Text |
Student loan |
74,240 |
749 |
|
|
|
26 |
Text |
Various deductions |
74,240 |
1,131 |
F-8 |
BP: Use Scratch Pad for Prop Tax |
|
27 |
Text |
Maryville Day Care |
74,240 |
1,351 |
5-3 |
|
|
28 |
Text |
|
Education expenses |
74,240 |
1,351 |
BP: Do evaluation last |
|
29 |
Text |
Energy related expenses |
74,240 |
1,569 |
G-9 |
Hint: May need to add form 5695 |
|
30 |
Text |
Estimated payments |
74,240 |
1,969 |
6-1 |
Hint: Also un-estimate State balance |
|
31 |
Still red – resolve |
74,240 |
1,969 |
Hint: “GAMBLING WINNINGS” |
|||
32 |
Diagnostics |
|
74,240 |
1,969 |
Hint: If get EIC errors, easiest to just |
||
33 |
Diagnostics |
|
74,240 |
1,969 |
No Errors |
||
34x |
Text |
1040 Wkt2 |
Education expenses – eval |
71,172 |
2,464 |
All as AGI deduction Assuming: Books and supplies not paid |
|
34x |
Text |
8863 Pg 1 |
Education expenses – eval |
74,240 |
2,583 |
All as Lifetime Learning Assuming: Same as for AGI deduction |
|
34 |
Text |
Education expenses |
74,240 |
4,346 |
5-4 |
Kendra – American Opportunity Kara – Lifetime Learning BP: Use Scratch Pad for Kendra calc |
|
35 |
Diagnostics |
Make sure no issues |
74,240 |
4,346 |
No Errors |
||
36 |
Note 6 |
Refund to checking Half applied to next year |
74,240 |
2,173 |
6-2 |
|
|
37 |
|
Diagnostics |
|
74,240 |
2,173 |
No errors |
|
38 |
|
Create e-file |
|
74,240 |
2,173 |
E-file created successfully |
|
39 |
|
|
|
74,240 |
2,173 |
Ask your mentor for Quality Review |
Values with pink background – changed from previous
Click on links in TW Form column to see screen shot of completed TWO form (you may need to click on the picture to enlarge it)
Printable version of this page – click here
Please report additions/corrections to Al Hershey