Monday, September 26, 2011

Midterm: Brad Wilson (Federal Return)

Good morning all, I think I got "Wilson" done for Federal. If anyone wants to chat about it let me know.

Thanks
Chris

128 comments:

  1. I'd like to discuss it. I tried working on it last night but my numbers were off and I wasn't sure where to put his jury pay.

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  2. Hey Chris
    Thanks for starting up this blog, i am sure it will be a great help for everyone. I am partially done with Brad Wilson federal, however i am stuck on few places. I will be online around 7ish pm today. Is it okay if we can discuss the problems that i am encountering? If so then please let me know. Thanks and gudluck to everyone on their midterm =)

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  3. Morning all, glad it seems to be working. I hope you guys are getting the comment emails as well.

    I am a little busy this morning but I will post two areas where I had problems with the numbers. I can have them up around 12:30 or so.

    Mary, I'll let you know about later this evening. Feel free to post any questions, I can answer those faster or starting thinking about them.

    Thanks all
    Chris

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  4. Two places I ran into problems with for B. Wilson were the following:

    1. Schedule D:Capital Gains and losses: on the 1099-div box 2a. that needs to go into the schedule D on line 13

    2.The "2009 state balance due" $753 should be added to the itemized deduction sheet on line 5 along with the totals in the CA book on page 182 box 17 of the W-2's. The reason I added this was the payment was made in 2010 for the 2009 taxes. You can find that on page 11.12 of the textbook in the last paragraph under "income taxes"

    If you got these then we can go over more from there but those were the spots I ran into a problem.

    Thanks
    Chris

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    Replies
    1. do you have this copy ? to email? Thanks

      Marie

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    2. Hey Marie, I don't think I have the forms anymore. I will double check when I get hime. Out of curiosity, how did you find this blog? I set it up over a year ago, I even forgot about it... :)

      I will reply if I still have the hard copies somewhere.

      Thanks
      Chris

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  5. I will try to be on here at 7 pm as well. I should be home and will have my Wilson midterm with me so we all can discuss it further.

    Thanks

    Estelle

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  6. I won't be able to get on around this time but I'll be on the look out for any questions. If I have input I'll chime in.

    Chris

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  7. I have a question regarding the agi. I have it as 30,126 but that doesn't seem right. I'm also questioning the taxable income and itemized deductions. For itemized I have it as 9105 and taxable i have it as 1461. I've done the math over and over but I think this is where I am messing up my numbers. I appreciate all help to fix up this federal form.

    Thank you

    Estelle

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  8. Hey Estelle, for AGI I am coming up with 30,271 and for itemized deductions I have 9070.

    For AGI I have 32,622 (line 22) - 2,351 (line 36) = 30271 (line 31 AGI)

    On itemized deductions I have: 1603 (line 4) + 3042 (line 9) + 3475 (line 15) + 950 (line 19) = 9070 (line 29)

    I can go over more stuff during the day tomorrow. I will also have some time tomorrow evening if we want to try and get a chat together. I think since we are mostly using gmail I'll look at setting up a chat room, if we can all agree on a time we can have a live chat. I am also working on the state and am hoping to have it done by tomorrow.

    Thanks
    Chris

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  9. Line 14 on schedule A anyone? Some reason I wrote down 727 but thought about it and I can't find out where.it came from..

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  10. What's up Kevin? I don't have anything on line 14 for schedule A.

    Chris

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  11. So does it come out to 4838? My questions were line 5 from the inc tax being 584, anfitriones line 14 but I think ur right to leave it blank

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  12. For line 5 of the itemized deductions sheet I got 1342:

    589 (total amounts from w-2 box 17 in state book, page 182) + 753 (from 2009 state balance due) = 1342 (line 5 state and local income tax on itemized deductions)

    Chris

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    Replies
    1. Hello Chris,

      Would you happen to have the Wilson MidTerm info? Can you email it or srnd link? My email is mrs.harris21@ymail.com

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  13. Here are links to the 1040 for Wilson:

    http://db.tt/Ocspzlla
    http://db.tt/PrG5Vby4

    As I said I got the refund amount of 2711 but if anyone see's an issue or if I did voo doo math somewhere I am happy to have other eyes on it.

    Thank you
    Chris

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  14. First, thank you for showing what you have so far for fed.

    I have a question on the total income (line 22). You have 32,622. I added up lines 7, 8a, 9a, 13 and 21. I get 32,672 for the total income (32,332+34+171+25+110)

    Also, how did you calculate the sched D and get 25?
    I'm not sure if I'm missing something there.

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  15. Hey Estelle, that one was where I had problems. Isn't the 25 you got form the capital gains and loss worksheet a (-25)? Since it was a negative 25 or loss I subtracted it.

    On the schedule D I got a (-25) from:

    2698 (column d) - 2748 (column e)
    Column f says:subtract "e" from "d" which equals (-50) or loss right?

    Then on line 13 of schedule D it asks for "capital gain distributions" I got that from the 1099-DIV box 2a: 25

    If you combine lines 8-14 in column f you would have (-50) + 25 = (-25) or a loss.

    When you subtract the 25 from the totals you have listed you get: 32,622

    Thank you for the feedback, like I said I need to check all this myself, again.
    Chris

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  16. Thank you for replying. I understand it now for that part. I only have one more question regarding the federal.
    Once I get this sorted I can move on toward state.

    I'm stuck on the tax table. Which number are we using for the tax table?

    When I use 30,271 I get 3,944. When I use the 13,901 I get 1491.

    I know the 1469 is correct as you have it because doing the math going downward on the 1040 will get you the correct answer but where did you get it from (the 1469)?

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  17. I got the 1469 from filling out the "qualified dividends and capital gains worksheet-line 44". Once you fill it out, line 19 of the worksheet tells you to use that tax on line 44 of the 1040.

    Chris

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  18. It's about 8:30, I am available now if anyone wants to chat about these forms.

    Chris

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  19. I'm having trouble getting my comments to post. I finished the federal thanks to your explaining the last question I had.

    I'm going to work on state right now. If I have questions I will make sure to post them in the states topic you created.

    Thank you for all of your help.

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  20. Thank you for your help. Talking about this stuff like we did here helps me understand it more myself.

    I'll check on the posting issues later tonight.

    Chris

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  21. On line 62 do I put the $753 taxes he paid in 2010? on pg. 1.6 it has a list of the 1040 which refers to page 11.11

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  22. Yo Kevin, line 62 looks like it refers to "estimated taxes" the $753 is tax that he had to pay from the 2009 return. I don't have anything on line 62. I put the $753 on schedule A line 5 "taxes you paid" You have to add $753 and $589. The $589 is the total of the state tax withheld on the W-2's in the state book on page 182.

    Chris

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  23. Ok cool thanx Chris I've been struggling on time...and is the eic based on ur earned income or AGI

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  24. Kevin and Chris - I have Line 62 blank for "2010 estimated tax payments..." The allocation of $753 is for 2009 tax.

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  25. Final amount for "Payments" I have is $3,180 - Lines 61 through 71.

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  26. Everyone - Don't forget about the LOCAL taxes on the California W-2 - $24 that gets added to Line 5 on SCHED. A along with the state taxes.

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  27. Ken, did you get the correct answer for this when you added the $24? I didn't add it and I got the correct answers. I also sent the 1040 and 540 to Erika and she said they were correct.

    Just wondering.

    CHris

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  28. Yup, I just did the math and it comes out the same. There are some lines on some schedules and forms that need to be updated but the answer comes out the same. This would have mucked up the answers bad on the test.

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  29. Hey Estelle, I hope you get the update that Ken listed. I sent a direct email to you.

    Chris

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  30. Chris - It does not change the amount of tax owed from looking up on the tax table but, I did get the $2,711 refund Erika gave us and it does change the amount of the schedule A which could be a test question on the Midterm

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  31. You're right Ken, I did the math last night and made the changes to sched A and the other forms that needed line changes. Thank you for the reminder on that. I am trying to make sure the others using the blog know about it also.

    Chris

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  32. If anyone wants to meet at 8:00am before the midterm, I will be there to go through the returns or try to answer questions on stuff that may be not be clear.

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  33. hi Chris.. this is MJ. can you please email me federal? i am $50 over on AGI. i got your state tax from Mel.. thanks!

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  34. MJ's email add is: mjtortogo@gmail.com
    Gracias!

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  35. I am updating the federal and added the 24 to the state and local tax on the sched a but when I add up the 1603, 3066, 3475 and 950 I get 9094. I am looking at the copies of the forms I was sent and I see 9096. Am I missing a number? I will try to be there early tomorrow for anyone showing up to discuss the midterm.

    Estelle

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  36. I will try to be in early tomorrow to go over the forms.

    Also, did anyone answer that question she posted on the board before we left?

    The question was which of the following itemized ded may be added to federal item ded on the CA return.

    A. Qualified medical expenses paid from HSA
    B. Loan interest for a Vacant peice of land in California
    C. State Disability Insurance (SDI)
    D. None of the above

    I think the answer is C. The CA adjustment form mirrors that itemized deduction federal form for lines 5, 7 and 8 and it specifically lists the words State Disabillity Insurance but I could be wrong.

    Let me know what you all think

    Estelle

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  37. somebody knows about the Final Bruce Harrison

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  38. Bruce &Lois 2 kids the third William release dependence to ex. Adjust:Lois contributed 2500 IRA the value for her Acc is 13093.75She did not take. OTHER INCOME:Bruce 2 days in District court received 50. CREDITS:B&L paid Little Center 7000(3500 each kid) to take care 2 kids. SELFEMPLOYMENT:L quilts.L made 8500 selling quilts. Spent 195 on advertising Bought 1200 supplies 225 in rent a space. RENTALREALESTATE: B&L each owned a hous. B&L moved to B hous after weed. They continue 2rent L house. L&B rented all y and get 8400rent.made minor repair cost 400 they paid 850 for home annually.paid 1400 real ESTATE TAx. purchased 2005,115000value has not change when the couple made it available to rent 2007.TRANSACTIONS Sell 30 shares 1650 buy in 2005 at 1182, 60 shares 1800 buy in 2005 at 1485, 10 shares buy in 2005 525 at 760ITEMIZED DEDUCTIONS:2011 state balance due 782 paid april 12,2012.Personal property tax 575 paid on December 27,2012. Donation to cancer 450 may3, 2012

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    Replies
    1. can you put the numbers into 1040 may be more comprehensive. Thank you very much. Hopefully you will get back the response soon.

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    2. anyone have question to Lois case in 1040? and the questions to the final exam?

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  39. I think is going to be for 2012 taxes somebody help.

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  40. can someone give the whole question for the brad Wilson ?

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  41. Also need help with Brad Wilson please

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    Replies
    1. what do you need? can you help me with Harrison case?

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  42. I need the Brad Wilson Midterm info? Willing to PAY for it.

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  43. Where the itemized deduction go in California?

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  44. Do anyone have the answers to the Brad Wilson mid term because I'm stuck. Can someone please help me?

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    Replies
    1. I need help with the whole thing!!

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    2. You can email me at ishelton90@yahoo.com

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    3. Did figure anything out for lines 10-21 (Income) and 23-37 (AGI)

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    4. me too. please email me @ kfnotaries@yahoo.com. going nuts and so stressed!

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    5. Count me in on that info mileandhill1@aol.com. Desperate in MA

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  45. I need help with the whole thing!!

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  46. Hi Chris. I need help with the HR Block Brad Wilson case, i am off a little over a hundred on my return, can you help me? I know you did this case a while back, but perhaps you can still help?

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    Replies
    1. Me too! Then I was short!. And now I'm confused! I need the answers so I can redo the case

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  47. Here are some tips for the Brad Wilson case:

    On the Qual Div wkr sheet, line 24 & 26- when you are looking on the tax table, make sure you are looking for the corresponding amount for HOH not single. That screwed me up. I fixed it, and that fixed all the other lines.

    Make sure line 21 of 1040 you added the jury pay.

    if you are only off by 20-50 bucks, chances are you screwed up on the taxable income line 43 form 1040. When you go to the tax table, make sure you are selecting the correct row amt. EX: someone who is HOH and has a taxable income of 15550 you must choose the row from 15,550- 15,600 NOT 15,500- 1550 this can screw you up by a few bucks, change it and it fixes everything.

    Hope this was helpful and gets you back on track. Will check back in a few hrs.

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  48. I guess i should also mention, for the capital gains and losses wrk sheet, make sure you are also entering the capital gain distributions from form 1099-DIV (line 2a) into line 13 of that wrk sheet.

    Make sure you are adding correctly using the math rules.

    For itemized deduction wrk sheet, part two taxes, make sure you are adding the state taxes from the W2s line 17, plus the taxes given in the scenario.

    I think this should cover most of the tricky parts to this work sheet.

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  49. What should the final answer be?

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  50. Final ans is 2814

    Also make sure that to get the tax for this case you are not using the tax table directly. You must use the Qual Div and Cap gain wrk sheet, then put the amt you get from there on line 44 of the 1040, then do the math from there.

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    Replies
    1. yes i got that as a final answer but in my itemized deductions i get $4690 in medical ? box4$1663 .

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    2. That's the correct answer. Because they can only deduct a portion of the medical.

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    3. but in the midterm it says its wrong ? i got the correct refund so i dont get it .

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  51. does anyone have copies of final forms? I am totally stressing and freaking out here over the Brad Wilson midterm. Please help. I'm begging....... :'(

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  52. yes I also have final answer $2814

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  53. line 7: 32332
    line 22: 32622
    line 38: 30271
    line 40: 9154
    line 46: 1339
    line 64a: 886
    line 74: 2814

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    Replies
    1. Hi i am stuck with qual dividends worksheet i am getting 1346 pls help how did u get 1339?

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    2. What did you add in itemized deduction because I have 8611

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  54. Anyone have the actual information to complete Harrison 1040?

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    Replies
    1. Any luck with getting this information on Harrison?

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  55. Please please help me with 2013 1040 and CA 540 numbers for brad Wilson .. Got a midterm and really tensed ... Will be grateful .. Please help!

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  56. Please upload the Fedral 1040 and CA 540 2013 Brad Wilson

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  57. I have the midterm in a few hours . Please help me with the numbers of CA 540 and fed 1040 for brad Wilson . Thanks!

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  58. Does anyone have numbers for JENSEN 11.1 ?

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  59. Line 7:52705
    Line 22:52953
    Line 37:52758
    Line40 14076
    Line43 26982
    Line46 3154
    Line 62 4178
    Line 73: 2024

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  60. Does anyone know the rest of the midterm exam questions?
    5 questions Part I;
    10 questions Part II

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    Replies
    1. did you have any luck?

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  61. id be interested to know the midterm exam questions and answers..i have started the test and almost complete but a few I'm not sure so I would like to have something to confirm my answers :(

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    Replies
    1. The questions would still be helpful without your answers, please.

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    2. If anyone has exam questions to midterm, please send to smack5507@yahoo.com

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    3. I would be interested in the questions. Thanks: cruisesrfn@aol.com

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    4. Call me stressed This will be my only job possibility ad I want to make sue my answers are correct. Please send to miloandhill1@aol.com

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    5. luzfigueroa80@gmail.com

      Please need help!

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  62. if anyone still needs Wilson I have it. Post email address.

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    Replies
    1. Please email Wilson 1040 with itemized deduction to: amit83g@yahoo.com

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    2. Need brad Wilson. Baldwin4945@bellsouth.net

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    3. Need brad Wilson ewingd1@yahoo.com

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    4. Need Brad Wilson. smack5507@yahoo.com Thanks!

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    5. butterfingers103@gmail.com

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    6. 99SMOKEY@COMCAST.NET----please!!

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    7. Anyone have the numbers for Brad Wilson 2013? I don't have what I need for the itemized deduction entries. Please help!

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    8. miloandhill1@aol.com Many Thanks

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    9. luzfigueroa80@gmail.com

      Please need help!

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    10. zashi510@gmail.com
      please need help for mid term Brand wilson

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    11. kattyvargas38@yahoo.com thank you so much

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    12. sarahbailes209@yahoo.com -Brad Wilson- thanks

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  63. i need case studies from chapter 9, 11, 12 jolivera869@gmail.com thankss!

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  64. My email is jazlynvjeremy@gmail.com

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    Replies
    1. Did you ever get the Brad Wilson info? miloanhill1@AOL.COM

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  65. Anyone still have their questions and answers to
    the final ?

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  66. Does anyone have the information on the final? Harrison?

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  67. Info emailed to those who posted their email addresses for Wilson.

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  68. good afternoon guys Im stuck on 14.2 carter state return keep coming up with 660 instead of 440 any help would be appreciated thanks

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  69. does anyone have the final answer of Bruce & Lois 2013 1040 Fed? please help.
    my final answer is $2502.
    i want to double check whether i'm correct or not

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    Replies
    1. Can you email the information on the final? robertssarah1234@gmail.com

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  70. If anyone has exam questions to midterm, please email : luzfigueroa80@gmail.com

    PLEASE GUYS

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  71. need help on case study 8.2 graded review #1 Marion Cunningham please .. thanks kattyvargas24@gmail.com

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    Replies
    1. What do you need help with?

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    2. I didnt pass the quiz :( .. now doing Wilson .. thanks anyways

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  72. Can someone post the final for Bruce & Lois 2013 1040?

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  73. bruce & lois 2013 / 1040 tax return
    line 7: 80357
    line 8a: 175
    line 8b: 279
    line 9a: 345
    line 9b: 216
    line 12: 6880
    line 13: 1115
    line 17: 0 (loss -105/ form 8582)
    line 21: 50
    line 22: 88922
    line 27: 486
    line 30: 38
    line 32: 2500
    line 36: 3024
    line 37/38: 85898
    line 40: 14655
    line 44: 7256
    line 48: 600
    line 51: 2000
    line 56: 972
    line 62: 8130
    line 74a: 2502

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    Replies
    1. Can you email me the information for the tax return? robertssarah1234@gmail.com. Please.....

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  74. form need:
    1040, schedule A, Schedule C, Schedule D, form 8949, Schedule E, Schedule SE, form 2441 and form 8582. good luck

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  75. I need help on midterm (Wilson) only in the medical expense . Somehow i did get the refund good . Totally lost on the California.return please help .. ��

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    Replies
    1. Anyone have the w2 and other information for the final to scan and email?

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  76. I would be interested in the final information, the w-2 as well. Thanks. cruisesrfn@aol.com

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  77. need help with brad wilson case (Midterm Exam).All info. thanks,
    sarahbailes209@yahoo.com

    ReplyDelete