IRS Form 1040-X Amended Income Tax Return – Change in Filing Status
The Form 1040-X can be filed by individuals to amend their federal income tax returns. This sample Form 1040-X reviews a change of filing status for a taxpayer.
Form 1099-INT Interest Income – How to Report U.S. Treasury Income & State Tax Issues
Form 1099-INT is used to report the amount of interest income paid to a recipient. This sample tutorial covers the Form 1099-INT and reporting obligations on Form 1040.
Child Tax Credit Updates for 2024 – Should You Wait to File Your Taxes?
The 2024 tax season is underway and there are some pending changes to the child tax credit (CTC). If the current bill is approved and passed into law, the changes could be retroactive.
Form 1099-INT Interest Income – How to Report Municipal Bond Interest Income
The Form 1099-INT is filed to report the amount of interest income paid to a recipient. In general, all interest income is taxable to U.S. taxpayers; however, there are exclusions for municipal bond interest.
Form 1099-INT Interest Income and Backup Withholding Tax
Backup withholding taxes may apply to accounts that are not compliant with all filing and reporting obligations. If backup withholding taxes apply to your interest income, you can claim the withholding on your Form 1040.
Form 8962 – How to Calculate the Premium Tax Credit
If a taxpayer purchased health insurance through the marketplace and received an advanced premium tax credit, they need to file Form 8962 with their tax return. This example covers a sample Form 8962 filing for the 2023 tax year.
How to File IRS Form 1116 for Foreign Qualified Dividend Adjustments
The Form 1116 is included with a taxpayer's Form 1040 to calculate their foreign tax credit. This example looks at potential adjustments required for foreign qualified dividend income.
How to File IRS Form 1116 (Foreign Tax Credit) for Foreign Taxes Paid on Foreign Investment Income
The Form 1116 is included with a taxpayer's Form 1040 to calculate their foreign tax credit. This example looks at a taxpayer claiming an FTC for foreign taxes paid on foreign investment income.
How to File IRS Form 6251 for AMT Adjustments of Private Activity Bond Interest Income
Some individual taxpayers may be subject to the alternative minimum tax (AMT) when they file their Form 1040. This example looks at an AMT adjustment for private activity bond interest income.
IRS Form 1099-DIV with Foreign Taxes Paid – Foreign Tax Credit on Form 1116
Some investors may have foreign taxes withheld on their dividend income. These foreign taxes can generally be claimed as a foreign tax credit on IRS Form 1116.