Income Enter values that apply Interest and Dividends Form 1099-INT/ Hint: Since the interest is tax exempt both Big City Begin Federal and State, there is no Bank Interest or Dividend Income -Begin adjustment required for the State. Check Tax Exempt Interest Income, Form Continue - and 1099-DIV Continue The tax exempt interest received was from a NJ Turnpike Bond and it is tax exempt in NJ. Federal AGI: 4,312 Federal Refund: 104 NJ Refund Amount: 19 Step 4 Federal Deductions, Adjustments & Credits TP TS Screen Form / Notes Note Left Menu - Federal Section TS: Go to the Add Sales Tax Worksheet Deductions and enter NJ, Zip Code, and 365 Enter Myself days living in the state Itemized Deductions Continue back to Deductions Taxes You Paid - Begin Federal AGI: 4,312 Federal Refund: 104 NJ Refund Amount: 19 Step 5 Compare Standard vs Itemized Deductions TP Form / TS Screen Notes Note Federal Section Check to see if using itemized or standard deductions. Deductions Itemized = 51 Enter Myself Std = 4,662 Compare Deductions - Begin Hint: You can view Schedule A (Itemized Deductions) by clicking on the Print Icon next to Itemized Deductions in the Deductions Menu. Continue Federal AGI: 4,312 Federal Refund: 104 NJ Refund Amount: 19
Big City Bank Income Interest and Dividends Form 1099-INT/ Begin Interest or Dividend Income -Begin Check Tax Exempt Interest Income, Form and 1099-DIV Continue Enter values that apply Hint: Since the interest is tax exempt both Federal and State, there is no adjustment required for the State. Continue - The tax exempt interest received was from a NJ Turnpike Bond and it is tax exempt in NJ. Federal AGI: 4,312 Federal Refund: 104 NJ Refund Amount: 19 Step 4 Federal Deductions, Adjustments & Credits TP Form / Note TS Screen Notes Left Menu - Federal Section Deductions Enter Myself Itemized Deductions Taxes You Paid - Begin TS: Go to the Add Sales Tax Worksheet and enter NJ, Zip Code, and 365 days living in the state Continue back to Deductions Federal AGI: 4,312 Federal Refund: 104 NJ Refund Amount: 19 Step 5 Compare Standard vs Itemized Deductions TP Form / Note TS Screen Notes Federal Section Deductions Enter Myself Compare Deductions - Begin Check to see if using itemized or standard deductions. Itemized = 51 Std = 4,662 Hint: You can view Schedule A (Itemized Deductions) by clicking on the Print Icon next to Itemized Deductions in the Deductions Menu. Continue Federal AGI: 4,312 Federal Refund: 104 NJ Refund Amount: 19
FAM-03%20Gallo%20Scenario%20TY2017%20v0.91.docx