EA Exam (Part 1: 2024) > Forms > Flashcards

Forms Flashcards

(63 cards)

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1
Q

Form 8332

A

Release of Claim to Exemption for Child by Custodial Parent

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2
Q

1040-SR

A

US Income Tax Return for Seniors

> 65

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3
Q

Schedule 1

A

Additional Income and Adjustments to Income

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4
Q

Schedule C

A

Attached to Schedule 1: Additional Income and Adjustments to Income

Schedule C: Profit or Loss from Business

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5
Q

Schedule E

A

Attached to Schedule 1: Additional Income and Adjustments to Income

Schechule E: Supplemental Income and Loss
(From rental real estate, royalties, partnerships, S corporations, estates, trusts, REMICs, etc.)

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6
Q

Schedule F

A

Attached to Schedule 1: Additional Income and Adjustments to Income

Schedule F: Profit or Loss From Farming

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7
Q

Schedule SE

A

Attached to Schedule 2: Additional Taxes

Self-Employment Tax

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8
Q

Schedule 2

A

Additional Taxes

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9
Q

Schedule H

A

Attached to Schedule 2: Additional Taxes

Schedule H: Household Employment Taxes
(Cash wages to household EE subject to SS, Medicare, or FUTA taxes)

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10
Q

Schedule 3

A

Additional Credits and Payments

Foreign Tax, education, general business, etc.

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11
Q

Schedule R

A

Attached to Schedule 3: Additional Credits and Payments

Schedule R: Credit for the Elderly or Disabled

> 65

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12
Q

Schedule A:

A

Itemized Deductions

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13
Q

Schedule B:

A

Interest and Ordinary Dividends

If:
- >$1,500 taxable interest
- Received interest from a seller financed mortgage
- Interest from a bond
- OID
- Interest from an amortizable bond
- Interest exclusion from EE or I
- Interest as nominee
- Interest from a foreign account

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14
Q

Schedule D:

A

Capital Gains and Losses

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15
Q

Schedule 8812

A

Credits for Qualifying Children and Other Dependents

child tax credit, credit for other dependants, and additional child tax credit

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16
Q

W-7

A

Application for IRS Individual Taxpayer Identification Number

  • Only file if no SS # - Don’t file if you submitted for SS #
  • If ITIN isn’t used within 3 years it’s no good
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17
Q

1099 - NEC

A

Nonemployee Compensation

ER didn’t consider as EE - you will use this with for 8919 to file Uncollected SS and Medicare tax

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18
Q

Form 8919

A

Uncollected SS and Medicare Tax

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19
Q

1099 - INT

A

Interest Income

Interest of $10 or more

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20
Q

1099 - Div

A

Dividends and Distributions

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21
Q

Form 2439

A

Notice to Shareholders of Undisputed Long-Term Capitail gains

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22
Q

1099 - R

A

Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.

Attach for 1099-R ONLY if Federal income tax was withheld

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23
Q

Form 8948:

A

Form 8949 is for detailed reporting of short-term and long-term capital gain or loss transactions (lists the gain/losses to form Schedule D)

Sale of a home is one type

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24
Q

Form 8889:

A

To report HSA contributions (including ER contributions or others on their behalf)

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25
Form 2555:
Foreign Earned Income
26
Form 7206:
Self-Employed Health Insurance Deduction - flows to schedule 1
27
Form 8606:
To report NONDEDUCTIBLE IRA contributions
28
Form 4952:
Investment Interest Expense Deduction
28
Form 8283:
Noncash Charitable Contributions Non cash gift >$500 - must thave appraisals for >$5,000
28
Form 4684:
To report gains and losses from Casualties and Thefts
29
Form 8614:
Parents’ Election To Report Child’s Interest and Dividends (Investment Income)
30
Form 6251:
AMT Form (attach to Schedule 2 - Additional Taxes)
31
Form 5329:
Additional taxes on IRAs, Roth IRAs, other qualified retirement plans, endowment contracts, ESAs, QTPs, Archer MSAs, HSAs, and Able Accounts.
32
Form 8839:
Qualified Adoption Expenses If a US citizen, can claim even if the adoption isn't final - Non-US citizen must wait until it's final.
32
Form 2441
Child and dependent care expense $3,000 per qualifying person of $6,000 total. Both taxpayers need earned income
33
Form 8863:
Education Credits (AOTC or LLC)
34
Form 8880:
Credit for Qualified Retirement Savings Contribution - Non refundable - $1,000 per person (max $2k)
35
Form 8962:
Premium Tax Credit - Help cover the cost of Health Insurance Based on income (100-400% of the poverty line) and Family size
36
Form 1116:
Foreign Tax Credit - nonrefundable
37
Form 5695:
Residential Energy Credits - 30% of qualified expenses - Credit up to $3,200 - $1,200 for energy property costs (doors, windows, etc) and $2,000 for heat pumps, boilers, stoves -Must be primary home
38
Form 8936:
Qualified Plug-in Electric Drive Motor Vehicle Credit - Credit up to $7,500 (non-refundable and no carry forward) - New car - $4,000 credit (30% up to 4k) - Used car (can't be claimed within 3 years
39
Form 843:
Claim for Refund and Request for Abatement - Claim Tier 2 (RRTA) excess SS and Medicare paid
40
Form 8867:
Paid Preparer’s Due Diligence Checklist
41
Form 4868:
Automatic 6 month extension (not extension to pay)
42
EFTPS:
The easiest way to pay estimated taxes
42
1040 ES
Estimated Tax for Individuals
43
Form 2210:
Underpayment of Estimated Tax by Individuals, Estates, and Trusts
44
Form 1127:
Application for Extensions of Time for Payment of Tax Due to Undue Hardship Must submit a - Balance sheet - list of income and expenses for the prior 3 months
45
Form 433:
433F - Collection information statement - outlines income, expenses, liabilities, and assets of the taxpayer - NON-Streamlined installment agreements - Up to 120 Months (not 72)
46
Form 8888:
Taxpayer wants the refund to go into more than one account or buy savings bonds
47
Form 8857:
File innoconect spouse relief: - Must of filed MFJ - No understanding of the situation - It would be unfair to hold the spouse accountable
48
Form 8379
Injured spouse files 8379 when past due obligations from other spouse apply
49
Form 7004:
5 1/2 - automatic extension to file 1041 (estates)
50
1040-NR:
1040-NR, U.S. Nonresident Alien Income Tax Return
51
Form 8938:
Statement of Specified Foreign Financial Assets - File if >$50k in assets on last day of the year OR - If >$75k during the year at any point
52
Form 114:
Report of foreign bank and financial accounts File if >$10k assets NOT REPORTED WITH IRS - Filed with the Financial Crimes Enforcement Network Due April 15 or Extension Oct 15
52
Form 2120:
Multiple Support Agreement >10% of support, file with tax return in order to claim a dependent - everyone signs the form agreeing not to claim the dependent.
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EA Exam (Part 1: 2024)
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