Advanced Workshop Return 37
Title:
Summary:
Advanced Workshop Return 37
In this lesson, you will learn the following:
1) Enter Form 1099-R income;
2) Enter 1099-G Worksheet for unemployment income;
3) Enter W-2 income;
4) Complete Form 5329, Additional Tax on Qualified Plans and Other
Favored Accounts;
5) Complete Form 8834, Qualified Electric Vehicle Credit;
6) Create the e-file.
Average completion time: 50 minutes
Steps for Advanced Workshop Return 37
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Log in to your user name. Use “TRAINING” if you plan to practice electronically filing
these returns through the TaxWise Training Electronic Filing Center.
Start a new return using 337-XX-XXXX. Use your company’s EFIN for “XX-XXXX” if you
are in the Training user name. Otherwise, use a unique number agreed upon by your
company.
Jason Penn is single and his birth date is April 1, 1948.
He quit his job as a salesperson and withdrew his retirement.
He was unemployed for 3 months when he got a new job as a manager. He received
unemployment during this time.
Jason bought an electric car this year. He would like to take the credit for this vehicle. He
paid $32,000 for the car, and placed it in service on June 21st. He is not depreciating the
vehicle, so is not taking any Section 179 deduction.
He wishes to e-file his federal return and if he has a balance due will pay it on April 15th of
this year.
Social Security Card
JASON ADAM PENN
337-XX-XXXX
1
Advanced Workshop Return 37
A Control number
OMB No. 1545-0008
B Employer Identification Number
23-7XXXXXX
C Employer’s name, address, and ZIP code
Cook’s Accounting
86 Juniper Road
Carrollton, GA 30117
D Employee’s social security number
337-XX-XXXX
E Employee’s name, address, and ZIP code
1 Wages, tips, other
compensation
$ 18,500.00
3 Social security wages
$ 18,500.00
5 Medicare wages and tips
$ 18,500.00
7 Social security tips
$
9 Advance EIC payment
$
11 Nonqualified plans
$
Jason Penn
88 Gardenia Street
Rome, GA 30161
13
15
State
Employers State
ID no.
16 State
wages, tips,
etc.
GA
23-7XXXXXX
$ 18,500.00
Form W-2 Wage and Tax Statement
Statutory
Employee
17 State income tax
Pension
Plan
2 Federal income tax withheld
$ 2,850.00
4 Social security tax withheld
$ 1,147.00
6 Medicare tax withheld
$ 268.25
8 Allocated tips
$
10 Dependent care benefits
$
12a See instructions for box 12
Code
$
12b
Code
$
12c
Code
$
12d
Code
$
Third-party
14 Other
Sick pay
18 Locality
name
19 Local
20 Local Income
wages, tips,
tax
etc.
$ 1,938.66
$
$
Department of the Treasury – Internal Revenue Service Center
2
Advanced Workshop Return 37
A Control number
OMB No. 1545-0008
B Employer Identification Number
10-9XXXXXX
C Employer’s name, address, and ZIP code
Happy Feet Shoes
10 North Star Mall
Pennington, NJ 08534
D Employee’s social security number
337-XX-XXXX
E Employee’s name, address, and ZIP code
1 Wages, tips, other
compensation
$ 4,500.00
3 Social security wages
$ 4,500.00
5 Medicare wages and tips
$ 4,500.00
7 Social security tips
$
9 Advance EIC payment
$
11 Nonqualified plans
$
Jason Penn
88 Gardenia Street
Rome, GA 30161
13
15
State
Employers State
ID no.
16 State
wages, tips,
etc.
GA
10-9XXXXXX
$ 4,500.00
Form W-2 Wage and Tax Statement
Statutory
Employee
17 State income tax
Pension
Plan
2 Federal income tax withheld
$ 450.00
4 Social security tax withheld
$ 279.00
6 Medicare tax withheld
$ 65.25
8 Allocated tips
$
10 Dependent care benefits
$
12a See instructions for box 12
Code
$
12b
Code
$
12c
Code
$
12d
Code
$
Third-party
14 Other
Sick pay
18 Locality
name
19 Local
20 Local Income
wages, tips,
tax
etc.
$ 200.68
$
$
Department of the Treasury – Internal Revenue Service Center
3
Advanced Workshop Return 37
PAYER’S name, street address,
city, state, and ZIP code
1 Gross distribution
$ 9,750.00
2a Taxable amount
20XX
Happy Feet Shoes
10 North Star Mall
Pennington, NJ 08534
Form 1099-R
$ 9,750.00
2b Taxable amount
not determined
PAYER’S
federal
identification no.
RECIPIENT’S
identification
no.
Total Distribution
X
3 Capital gain (included in box 2a)
4 Federal income tax
withheld
10-9XXXXXX
337-XX-XXXX
RECIPIENT’S name
$
5 Employee contributions or
insurance premiums
Jason Penn
Street address (including apt.
no.)
$
7 Distribution code
$ 950.00
6 Net unrealized
appreciation in
employer’s securities
$
8 Other
1
88 Gardenia Street
City, state, and ZIP code
Rome, GA 30161
Account number (optional)
Distributions From
Pensions, Annuities,
Retirement or
Profit-Sharing
Plans, IRAs,
Insurance
Contracts, etc.
Copy A
For
Internal Revenue
Service Center
OMB No. 1545-0119
IRA/SEP
/SIMPLE
$
For Privacy Act
And Paperwork
Reduction Act
Notice, see the
20XX General
Instructions for
Forms 1099,
1098, 5498,
and W-2G.
%
9a Your percentage of total
distribution
%
9b Total employee
contributions
10 State tax withheld
11 State/Payer’s state no.
12 State distribution
$ 97.50
13 Local tax withheld
GA 10-9XXXXXX
14 Name of locality
$ 9,750.00
15 Local distribution
$
Form 1099-R Cat. No. 14436Q
$
Department of the Treasury – Internal Revenue Service
4
Advanced Workshop Return 37
PAYER’S name, street address, city, state,
ZIP code, and telephone no.
Georgia Department of Labor
194 Riverside Drive
Rome, GA 30161
1 Unemployment compensation
$ 1,027.36
2 State or local income tax
refunds, credits, or offsets
$
PAYER’S Federal
identification no.
RECIPIENT’S
identification no.
3 Box 2 amount is for tax year
027-XX-XXXX
RECIPIENT’S name
337-XX-XXXX
Jason Penn
Street address (including apt. no.)
88 Gardenia Street
City, state, and ZIP code
Rome, GA 30161
Account number (optional)
5 Qualified state tuition program
earnings
$
7 Agriculture payments
$
OMB No. 15450120
20XX
Form 1099-G
4 Federal income tax
withheld
$
6 Taxable grants
$
8 The amount in box
2 applies to income
from a trade or
business
►
Certain
Government
And Qualified
State Tuition
Program
Payments
Copy A
For
Internal
Revenue
Service Center
File with form
1096.
For Privacy Act
and
Paperwork
Reduction Act
Notice, see the
20XX General
Instructions for
Forms 1099,
1098,
5498, and W2G
5