Important to note the sentence in item #13 of the instruction data that states assume that the selfemployed health insurance deduction is…

Need help putting this information into the correct tax forms. Thank you

5. Important to note the sentence in item #13 of the instruction data that states “assume that the self—employed health insurance deduction is $384”. This means enter as adeduction on Form 1040. line 29 $384, assume this is an acceptable deduction for CA with no adjustment. (no further explanation provided) 6. Be sure to view the State Tax Video to help support the Schedule A Income tax deduction calculation. FORM 1040 LINE 44. TAX. Included in the tax calculation for the Cortez family are two taxes. a. Use the Qualified Dividends and Capital Gain Tax Worksheet to calculate regulartaxI]. Use the Form 8314 to calculate the Kiddie Tax c. Add the regular tax to the Kiddie tax and enter the sum on line 44. FORM 1040 LINE 61. SHARED RESPONSIBILITY PAYMENTWORKSHEET. Note: the textbook version or the worksheet is what we are using, this was available BEFORE the official version so is dinerent than in the instmctions to Fonn 3965 HealthCoverage Exemptions. Here are hints to support your completion of the worksheet: a. Household Income: AGI plus any tax-exempt interest line so plus any Gary’s interest income I]. Line #8 of Shared Responsibility Payment Woncsheet: Enter the amount listed below for your filing status: Single—$10,350 Head of household—$13,350 Married filing jointly— 4i1i’i’201? $20,?od Married filing separately—$4,050 Qualifying widower) with dependent child—$15,650 FORM 1040 LINE 67. SCHEDULE 8812.Be sure to consider that the Cortez family mayr qualify for additional child tax credit from the completion of the schedule 8812. FORM 1040 LINE 69. FORM 3962. Yes, the Cortez family will receive some tax credit, AND they have to pay some individual responsibility {Form 1040 line 61). Modified AGI Form 8962 Box 2A will be the federal AGI that you have calculated plus any tax—exempt interest income. Dependent’s modified AGI will be for Gregory. $2,100 (3,100 minus 1,000 already included in AGI for Cortez). Enter $2,100 on line 2b Form 3962. CALIFORNIA — FORM 3803We did not cover a sample or this in our California study. This is for Gary. Line 1a: $3,100, then continue with the remainder of the form. CALIFORNIA -ASSUME DO NOT QUALIFY FOR RENTERS’ CREDIT

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