Gardener wrote:I am doing my own taxes this year manually to get a better feel as to what exactly is driving my income tax bill. If the material in this post is too granular and the post is removed, I will understand.
For the income part of Form 1040
1. Is box 7 on the 1040 (wages, salaries, etc) computed by simply adding up box 1 of me and my wife's W-2's?
2. Regarding box 15a and 15b on form 1040...I have added up the gross distributions and they come out to $40,777, however only $17 were taxable. Would I simply put the 40,777 in box 15a and $17 in box 15b?
Thanks for helping to verify if I am on the right track or if any corrections are needed.
Gardener wrote:This is helpful.
Thank you for the link and the reference to the i1040. I will use them.
I am going to see if I can order the pub 17 from IRS. Its kind of nice just to have the guidance right in front of you.
Ill probably come back and ask additional questions when I get to the Adjustable Income section of the 1040 in a few days or so.
Gardener wrote:I am going to see if I can order the pub 17 from IRS. Its kind of nice just to have the guidance right in front of you.
Users browsing this forum: avenger and 32 guests