Independence University Accounting Worksheet

Description

All of the information from the tax information sheet must be on the 1040, schedule a, and child tax credit forms.

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Form
1040 U.S. Individual Income Tax Return 2018
(99)
Department of the Treasury—Internal Revenue Service
Filing status:
Single
Married filing jointly
Your first name and initial
Qualifying widow(er)
Your social security number
Someone can claim you as a dependent
If joint return, spouse’s first name and initial
Spouse is blind
Head of household
IRS Use Only—Do not write or staple in this space.
Last name
Your standard deduction:
Spouse standard deduction:
Married filing separately
OMB No. 1545-0074
You were born before January 2, 1954
You are blind
Spouse’s social security number
Last name
Someone can claim your spouse as a dependent
Spouse was born before January 2, 1954
Spouse itemizes on a separate return or you were dual-status alien
Home address (number and street). If you have a P.O. box, see instructions.
Apt. no.
City, town or post office, state, and ZIP code. If you have a foreign address, attach Schedule 6.
Dependents (see instructions):
(1) First name
(2) Social security number
Full-year health care coverage
or exempt (see inst.)
Presidential Election Campaign
(see inst.)
You
Spouse
If more than four dependents,
see inst. and ✓ here ▶
(3) Relationship to you
Last name
(4) ✓ if qualifies for (see inst.):
Child tax credit
Credit for other dependents
Sign
Here
Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true,
correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Joint return?
See instructions.
Keep a copy for
your records.
▲
Paid
Preparer
Use Only
Your signature
Date
Your occupation
Spouse’s signature. If a joint return, both must sign.
Date
Spouse’s occupation
Preparer’s name
Preparer’s signature
PTIN
If the IRS sent you an Identity Protection
PIN, enter it
here (see inst.)
If the IRS sent you an Identity Protection
PIN, enter it
here (see inst.)
Firm’s EIN
Check if:
3rd Party Designee
Firm’s name
▶
Phone no.
Self-employed
Firm’s address ▶
For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions.
Cat. No. 11320B
Form
1040 (2018)
Page 2
Form 1040 (2018)
Attach Form(s)
W-2. Also attach
Form(s) W-2G and
1099-R if tax was
withheld.
Standard
Deduction for—
• Single or married
filing separately,
$12,000
• Married filing
jointly or Qualifying
widow(er),
$24,000
• Head of
household,
$18,000
• If you checked
any box under
Standard
deduction,
see instructions.
Refund
Direct deposit?
See instructions.
1
Wages, salaries, tips, etc. Attach Form(s) W-2 .
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2a
Tax-exempt interest .
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3a
Qualified dividends .
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2a
b Taxable interest
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2b
3a
b Ordinary dividends
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4a
3b
IRAs, pensions, and annuities .
4a
b Taxable amount
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4b
5a
Social security benefits
5a
b Taxable amount
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5b
6
7
Total income. Add lines 1 through 5. Add any amount from Schedule 1, line 22
. . . . .
Adjusted gross income. If you have no adjustments to income, enter the amount from line 6; otherwise,
subtract Schedule 1, line 36, from line 6
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6
8
Standard deduction or itemized deductions (from Schedule A) .
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8
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Qualified business income deduction (see instructions) .
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Taxable income. Subtract lines 8 and 9 from line 7. If zero or less, enter -0-
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a Tax (see inst.)
Form 4972
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(check if any from: 1
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2
Form(s) 8814
b Add any amount from Schedule 2 and check here
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7
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12
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a Child tax credit/credit for other dependents
13
Subtract line 12 from line 11. If zero or less, enter -0-
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Other taxes. Attach Schedule 4 .
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14
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Total tax. Add lines 13 and 14
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15
16
Federal income tax withheld from Forms W-2 and 1099
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16
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Refundable credits: a EIC (see inst.)
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b Add any amount from Schedule 3 and check here ▶
b Sch. 8812
c Form 8863
Add any amount from Schedule 5
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17
18
Add lines 16 and 17. These are your total payments
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18
19
If line 18 is more than line 15, subtract line 15 from line 18. This is the amount you overpaid .
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20a
Amount of line 19 you want refunded to you. If Form 8888 is attached, check here
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▶
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b
Routing number
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d
Account number
21
Amount You Owe 22
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Amount of line 19 you want applied to your 2019 estimated tax .
c Type:
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Checking
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Go to www.irs.gov/Form1040 for instructions and the latest information.
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19
20a
Savings
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Amount you owe. Subtract line 18 from line 15. For details on how to pay, see instructions
Estimated tax penalty (see instructions) .
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22
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Form
1040 (2018)
Itemized Deductions
SCHEDULE A
(Form 1040)
OMB No. 1545-0074
▶ Go
Department of the Treasury
Internal Revenue Service (99)
to www.irs.gov/ScheduleA for instructions and the latest information.
▶ Attach to Form 1040.
Caution: If you are claiming a net qualified disaster loss on Form 4684, see the instructions for line 16.
Name(s) shown on Form 1040
Medical
and
Dental
Expenses
Taxes You
Paid
1
2
3
4
5
Caution: Do not include expenses reimbursed or paid by others.
Medical and dental expenses (see instructions) . . . . .
1
Enter amount from Form 1040, line 7
2
Multiply line 2 by 7.5% (0.075) . . . . . . . . . . .
3
Subtract line 3 from line 1. If line 3 is more than line 1, enter -0- . .
State and local taxes.
a State and local income taxes or general sales taxes. You may
include either income taxes or general sales taxes on line 5a,
but not both. If you elect to include general sales taxes instead
of income taxes, check this box . . . . . . . . ▶
b State and local real estate taxes (see instructions) . . . . .
c State and local personal property taxes . . . . . . . .
d Add lines 5a through 5c . . . . . . . . . . . . .
e Enter the smaller of line 5d or $10,000 ($5,000 if married filing
separately) . . . . . . . . . . . . . . . . .
6 Other taxes. List type and amount ▶
7 Add lines 5e and 6
2018
Attachment
Sequence No. 07
Your social security number
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5a
5b
5c
5d
5e
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6
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Interest You 8 Home mortgage interest and points. If you didn’t use all of your
Paid
home mortgage loan(s) to buy, build, or improve your home,
Caution: Your
mortgage interest
deduction may be
limited (see
instructions).
see instructions and check this box . . . . . . . ▶
a Home mortgage interest and points reported to you on Form
1098 . . . . . . . . . . . . . . . . . . .
8a
b Home mortgage interest not reported to you on Form 1098. If
paid to the person from whom you bought the home, see
instructions and show that person’s name, identifying no., and
address ▶
Gifts to
Charity
If you made a
gift and got a
benefit for it,
see instructions.
Casualty and
Theft Losses
8b
c Points not reported to you on Form 1098. See instructions for
special rules . . . . . . . . . . . . . . . . .
8c
d Reserved . . . . . . . . . . . . . . . . . .
8d
e Add lines 8a through 8c . . . . . . . . . . . . .
8e
9 Investment interest. Attach Form 4952 if required. See
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instructions . . . . . . . . . . . . . . . . .
10 Add lines 8e and 9
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11 Gifts by cash or check. If you made any gift of $250 or more,
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see instructions . . . . . . . . . . . . . . .
12 Other than by cash or check. If any gift of $250 or more, see
instructions. You must attach Form 8283 if over $500 . . .
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13 Carryover from prior year . . . . . . . . . . . .
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14 Add lines 11 through 13 . . . . . . . . . . . . . . .
15 Casualty and theft loss(es) from a federally declared disaster (other than net qualified
disaster losses). Attach Form 4684 and enter the amount from line 18 of that form. See
instructions . . . . . . . . . . . . . . . . . . . . . . . . .
16 Other—from list in instructions. List type and amount ▶
15
Other
Itemized
Deductions
16
Total
17 Add the amounts in the far right column for lines 4 through 16. Also, enter this amount on
Form 1040, line 8 . . . . . . . . . . . . . . . . . . . . . . .
17
Itemized
Deductions 18 If you elect to itemize deductions even though they are less than your standard
deduction, check here
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For Paperwork Reduction Act Notice, see the Instructions for Form 1040.
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Cat. No. 17145C
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▶
Schedule A (Form 1040) 2018
SCHEDULE 8812
(Form 1040)
Additional Child Tax Credit
1040
Department of the Treasury
Internal Revenue Service (99)
8812
All Filers
Caution: If you file Form 2555 or 2555-EZ, stop here; you cannot claim the additional child tax credit.
1
If you are required to use the worksheet in Pub. 972, enter the amount from line 10 of the Child Tax Credit
and Credit for Other Dependents Worksheet in the publication. Otherwise:
1040 filers:
Enter the amount from line 8 of your Child Tax Credit and Credit for Other
Dependents Worksheet (see the instructions for Form 1040, line 12a).
1040NR filers: Enter the amount from line 8 of your Child Tax Credit and Credit for Other
Dependents Worksheet (see the instructions for Form 1040NR, line 49).
2
Enter the amount from Form 1040, line 12a, or Form 1040NR, line 49 . . . . . . . . . . . .
3
Subtract line 2 from line 1. If zero, stop here; you cannot claim this credit . . . . . . . . . . .
4
Number of qualifying children under 17 with the required social security number:
X $1,400.
Enter the result. If zero, stop here; you cannot claim this credit . . . . . . . . . . . . . .
TIP: The number of children you use for this line is the same as the number of children you used for line 1 of
the Child Tax Credit and Credit for Other Dependents Worksheet.
5
Enter the smaller of line 3 or line 4 . . . . . . . . . . . . . . . . . . . . . .
6a Earned income (see separate instructions) . . . . . . . . . . .
6a
b Nontaxable combat pay (see separate
instructions) . . . . . . . . . . .
6b
7
Is the amount on line 6a more than $2,500?
No. Leave line 7 blank and enter -0- on line 8.
Yes. Subtract $2,500 from the amount on line 6a. Enter the result . . .
7
8
Multiply the amount on line 7 by 15% (0.15) and enter the result . . . . . . . . . . . . . .
Next. On line 4, is the amount $4,200 or more?
No. If line 8 is zero, stop here; you cannot claim this credit. Otherwise, skip Part II and enter the
smaller of line 5 or line 8 on line 15.
Yes. If line 8 is equal to or more than line 5, skip Part II and enter the amount from line 5 on line 15.
Otherwise, go to line 9.
}
Part II
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1
2
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8
Certain Filers Who Have Three or More Qualifying Children
Withheld social security, Medicare, and Additional Medicare taxes from
Form(s) W-2, boxes 4 and 6. If married filing jointly, include your spouse’s
amounts with yours. If your employer withheld or you paid Additional
Medicare Tax or tier 1 RRTA taxes, see separate instructions . . . . . .
1040 filers:
Enter the total of the amounts from Schedule 1 (Form
1040), line 27, and Schedule 4 (Form 1040), line 58,
plus any taxes that you identified using code “UT” and
entered on Schedule 4 (Form 1040), line 62.
1040NR filers:
Enter the total of the amounts from Form 1040NR,
lines 27 and 56, plus any taxes that you identified using
code “UT” and entered on line 60.
}
Add lines 9 and 10 . . . . . . . . . . . . . . . . .
1040 filers:
Enter the total of the amounts from Form 1040, line
17a, and Schedule 5 (Form 1040), line 72.
1040NR filers: Enter the amount from Form 1040NR, line 67.
Subtract line 12 from line 11. If zero or less, enter -0- . . . . . . .
Enter the larger of line 8 or line 13 . . . . . . . . . . . .
Next, enter the smaller of line 5 or line 14 on line 15.
Part III
Attachment
Sequence No. 47
Your social security number
Name(s) shown on return
Part I
2018
1040NR
Attach to Form 1040 or Form 1040NR.
Go to www.irs.gov/Schedule8812 for instructions and the latest
information.
▶
▶
OMB No. 1545-0074
◀
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15
Additional Child Tax Credit
This is your additional child tax credit .
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Enter this amount on
Form 1040, line 17b, or
Form 1040NR, line 64.
1040
1040NR ◀
For Paperwork Reduction Act Notice, see your tax return instructions.
Cat. No. 59761M
Schedule 8812 (Form 1040) 2018
Paul and Betty Jones are married with three children. All three children live with them. Their ages and
names follow:
Paul
Husband
32
Betty
Wife
28
Anne
Daughter
5
Brian
Son
3
Cindy
Daughter
1
Paul is an attorney and Betty works part-time in a Genetics Lab.
Paul and Betty wants you to prepare their tax return and have given you the following
Documents.
2018
2018
18
18
Blue Insurance Company of America
10100 Avenue of the Americas
New York, NY 10010
Paul Jones,
2018 summary of your health insurance premiums paid in 2015:
2018
Here is the 2015
January
$600
February
600
March
600
April
600
May
600
June
600
July
600
August
600
September
600
October
600
November
600
December
600
2018 $7,200
Total for 2015:
Eyeglasses and Eye Health Specialists, PC
350 Main Street
Lakeview, MN 55044
Paul and Betty Jones Joplin Way
1846 Joplin Way
Lakeview, MN 55044
Patient: Anne Jones
18
Service Date: 6/15/15
Services provided
Eye Exam
$150
Eye Glasses
200
Sports Prescription
250
$600
18
Amount paid in full: 9/15/15
Len Adelle, DDS, MS, MD
Orthodontic Services
530 Madison Avenue
Lakeview, MN 55044
Paul and Betty Jones
1846 Joplin Way
Lakeview, MN 55044
Patient Name: Brian Jones
Dates of Service
January 31, 2015
2018
Service/Preparation
2018
February 15, 2015
Stage 1
February 28, 2015
2018
Stage 2, completion
Total costs:
Less: Insurance
Patient Responsibility
$12,500
10,000
$ 2,500
Less Payments:
2/15
$1,000
2/28
$1,500
Amount Due
$0
PAID IN FULL

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