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 =)

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.

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.

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.

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.

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)

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.

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

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)?

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.

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.

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.

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.

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

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.

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.

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.

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.

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

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.

ReplyDeleteHey Chris

ReplyDeleteThanks 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 =)

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

ReplyDeleteI 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

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

ReplyDelete1. 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

do you have this copy ? to email? Thanks

DeleteMarie

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... :)

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

Thanks

Chris

you have the files?

DeleteI 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.

ReplyDeleteThanks

Estelle

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.

ReplyDeleteChris

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.

ReplyDeleteThank you

Estelle

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

ReplyDeleteFor 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

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..

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

ReplyDeleteChris

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

ReplyDeleteFor line 5 of the itemized deductions sheet I got 1342:

ReplyDelete589 (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

Hello Chris,

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

Here are links to the 1040 for Wilson:

ReplyDeletehttp://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

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

ReplyDeleteI 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.

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.

ReplyDeleteOn 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

Thank you for replying. I understand it now for that part. I only have one more question regarding the federal.

ReplyDeleteOnce 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)?

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.

ReplyDeleteChris

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

ReplyDeleteChris

How is everyone doing?

ReplyDeleteChris

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

ReplyDeleteI'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.

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

ReplyDeleteI'll check on the posting issues later tonight.

Chris

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

ReplyDeleteYo 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.

ReplyDeleteChris

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

ReplyDeletentevermind

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

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

ReplyDeleteEveryone - 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.

ReplyDeleteKen, 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.

ReplyDeleteJust wondering.

CHris

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.

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

ReplyDeleteChris

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

ReplyDeleteYou'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.

ReplyDeleteChris

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.

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

ReplyDeleteMJ's email add is: mjtortogo@gmail.com

ReplyDeleteGracias!

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.

ReplyDeleteEstelle

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

ReplyDeleteAlso, 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

somebody knows about the Final Bruce Harrison

ReplyDeleteBruce &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

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

DeleteI think is going to be for 2012 taxes somebody help.

ReplyDeletecan someone give the whole question for the brad Wilson ?

ReplyDeleteAlso need help with Brad Wilson please

ReplyDeletewhat do you need? can you help me with Harrison case?

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

ReplyDeleteWhere the itemized deduction go in California?

ReplyDelete