N11-P1 – Jones Refund Monitor

Filing Status: Married filing jointly

01-19-2012 v1-2

 

Step

TP Form/
Note(s)

TW Form

Payee/Name

Fed 37
AGI

Fed 74/76
Refund

NJ 37
Taxable

NJ 55/65
Refund

4012
page

Notes

1

Intake etc.
Note 1

Main Info
Prep Use

 

 

 

 

 

1-7

Hint: Use 4012 for Filing Status
 and Dependency issues

2

W-2

W2

K&B Engineers, Inc

26,200

632

 

 

2-3

Hint: Use context sensitive help to
 check allowable characters in
 Employer’s name field

3

1099-R

1099R

National Financial Services, LLC

33,075

634

 

 

2-17

 

4

1099-R
Note 4

1099R
IRA Rollover

AXA Equitable

33,902

1,132

 

 

2-18

BP: Add IRA Rollover associated
 with 1040 line 15b box now

Hint: See 1099R ScreenShot for
 handling of partial Rollover

5

RRB-1099

1040 Wkt1

Railroad Retirement Tier 1

36,420

1,567

 

 

2-19

 

6

RRB-1099-R
Note 3

1099R

Railroad Retirement Tier 2

45,915

1,015

 

 

2-19

Hint: See NJ Special Handling
 for RRB Tier 2

Hint: Use Simplified Method for
 taxable amount

7

1099-INT

Interest Stmt

Fly By Nite

46,906

865

 

 

2-5

Hint: Look up in GIT-5

8

Note 5
Note 6

1040 Pg 1
St Tax Refund

State tax refund

48,102

685

 

 

2-2

Q: AGI goes up by over $1,000
 - why?

9

Note 7

A Detail

Medical

48,102

685

 

 

4-4

Hint: Sch A line 4 = 5,883

10

Note 8

Sch A

Property Taxes

48,102

737

 

 

4-2

Hint: Sch A line 9 = 7,206

11

Note 9

Sales Tax

Renovation costs

48,102

790

 

 

 

Hint: NJ sales tax included in
  $8,560 = $560 (i.e. $8,000 * 7%)

12

Note 10`

5695 Pg 1

Energy efficient costs

48,102

1,047

 

 

G-9

Hint: Use Tom’s River address

BP: Use whole amt, not limit amt;
 let TW figure limit

13

Note 11

F/S Tax Pd

NJ Estimated payments

48,102

1,062

 

 

6-1

Hint: Refer to NJ Special Handling

Hint: Sch A Line 9 = 7,621

14

Note 12

St Tax Refund
Scratch Pad

PTR recovery

48,102

1,062

 

 

 

Hint: Follow NJ Special Handling
 procedure (carefully!)

Q: Why does 1040 line 10 change?

15

 

1040 Pg 1

Still red – resolve

48,102

1,062

 

 

 

 

16

 

Diagnostics

 

48,102

1,062

 

 

 

No Errors

NJ return

17

Intake etc.

NJ 1040 Pg1

County/Municipality code

48,102

1,062

15,387

779

 

Hint: Check Initial NJ Values

18

 

NJ 1040 Pg3

Gubernatorial Election

48,102

1,062

15,387

779

 

Hint: Use NJ Special Handling

19

 

NJ 1040 Pg3
NJ Other Inc

Line 25

48,102

1,062

15,041

784

 

Hint: Use amount from fed

 St Tax Refund

20

W-2
Note 7

NJ 1040 Pg3
Scratch Pad

Line 30

48,102

1,062

13,841

800

 

Q: Can you reconcile amount
 on NJ line 30 with fed Sch A
 line 1?

21

Note 8

NJ 1040 Pg3

Line 36b

48,102

1,062

13,841

800

 

 

22

Note 13

NJ 1040 Pg3

Line 44

48,102

1,062

13,841

800

 

 

23

Note 8

NJ 1040 Pg4

Worksheet F line 1

48,102

1,062

7,182

894

 

 

24

Note 14

NJ DD Wkt

Still red – resolve

48,102

1,062

7,182

894

 

 

25

 

NJ IRA Wkt
NJ IRA Wkt

Still red – resolve

48,102

1,062

15,038

784

 

Hint: Enter copy number(s)

Hint: ok to leave other fields red

26

 

Diagnostics

 

48,102

1,062

15,038

784

 

No Errors

27

 

Create e-File(s)

 

48,102

1,062

15,038

784

 

E-files created successfully

 

 

 

 

48,102

1,062

15,038

784

 

Ask your mentor for Quality Review

 

Values with pink background – changed from previous

Click on links in TW Form column to see screen shot of completed TWO form (you may need to click on the picture to enlarge it)

 

Printed return – click here

 

Scenario Writeup – click here

 

Printable version of this page – click here