N11-P2 – Mitchel 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.	Main Info Prep Use						1-7	Hint: Use 4012 for Filing Status  and Dependency issues
2	W-2	W2	Smart Kids School	45,600	(176)			2-3
3	W-2G Note 6	W2G	ABC Casino	46,900	(241)				BP: Enter losses on related W2G  worksheet
4	W-2G Note 6	W2G	New Jersey Lottery (Henry)	56,900	(741)				BP: Enter losses on related W2G  worksheet
5	W-2G Note 6	W2G	New Jersey Lottery (Janet)	71,900	(824)				BP: Enter losses on related W2G  worksheet
6	1099-B	Cap Gn Wkt	Fly By Nite	72,513	(891)				Hint: Use code O for commissions
7	Note 1	1040 Wkt2 Sch A	Educator expenses	72,263	(854)				Hint: Excess educator expenses  above $250 can go on Sch A
	Note 3		Tuition	72,263	(854)				BP: Wait until end to do evaluation  of alternatives
8	Note 4a	1040 Pg 1	Did not itemize	72,263	(854)
9	Note 4b	F/S Tax Pd	Prior year tax stuff	72,263	(725)
10	Note 4c	Sch D Pg 1	Capital loss carryover	68,650	(208)
11	Note 7	Sch A A Detail	Deductions	68,650	1,277
12	Note 8	Cap Gn Wkt	Sale of GA condo	68,650	1,277				Hint: Use code L for non-deductible  loss (other than wash sale)
	Note 9		Refund allocation	68,650	1,277				BP: Wait until last
13		1040 Pg 1	Still red – resolve	68,650	1,277
14		Diagnostics	Run prior to Tuition eval	68,650	1,277				No Errors
15x1			Tuition as adjustment	64,950	1,832
15x2			Tuition as Lifetime Learning	68,650	2,017
15		8863 Pg 1	Tuition as Amer Opportunity	68,650	3,702
16		Diagnostics	Run prior to Refund alloc	68,650	3,702				No Errors
17	Note 9	1040 Pg 2 8888	Refund allocation	68,650	3,000
18		Diagnostics		68,650	3,000				No Errors
New Jersey return – Follow NJ Special Handling line by line
19	Intake etc.	NJ 1040 Pg1	County/Municipality Code	68,650	3,000	45,273	1,278		Hint: Check Initial NJ Values
20	Note 3	NJ 1040 Pg3	Line 11	68,650	3,000	44,273	1,295
21	Note 12	NJ 1040 Pg3	Gubernatorial	68,650	3,000	44,273	1,295
22	1099-B	NJ Sch B Scratch Pad	Fly By Nite –  State Exempt Table	68,650	3,000	44,220	1,296		Hint: See NJ Special Handling BP: Document with Scratch Pad
23	Note 5	NJ 1040 Pg3 Scratch Pad	Cafeteria Plan	68,650	3,000	43,924	1,301		Hint: Use procedure on NJ Special  Handling
24		NJ 1040 Pg3	Line 36b	68,650	3,000	43,924	1,301
25	Note 11	NJ 1040 Pg3	Line 44	68,650	3,000	43,924	1,301
26	Note 7	NJ 1040 Pg4	Worksheet F line 1	68,650	3,000	37,024	1,422
27	Note 10	NJ DD Wkt	Still red – resolve	68,650	3,000	37,024	1,422
28		Diagnostics		68,650	3,000	37,024	1,422		No Errors
29		Create e-File(s)		68,650	3,000				Spurious MEF validation errors
				68,650	3,000				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

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