Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Kansas58
But that's not what you said ~ frankly since I turned 25 i"ve never been able to get it all on a 1040 ~ at least and not have them ask me for the other forms and/or documents they want.

A little bit more of this Great Obama Recession then maybe I can get it down to a single 1040

320 posted on 09/17/2012 9:01:45 PM PDT by muawiyah
[ Post Reply | Private Reply | To 311 | View Replies ]


To: muawiyah

I’m sorry, but you should back away from this tax debate.

Best of luck


325 posted on 09/17/2012 9:11:55 PM PDT by Zeneta (Why are so many people searching for something that has already found us ?)
[ Post Reply | Private Reply | To 320 | View Replies ]

To: muawiyah

Kansas is right - everything flows to 1040.

Doesn’t matter if you have schedule A, B, C, D, whatever. The aggregate of all of that will appear on 1040.

Capital gains IS income, it’s just taxed at different rate.

Formula is:

Income (Broadly conceived, this means everything, EVERYTHING)
minus Exclusions (such as child support)
= Gross income
Gross income MINUS deduction for adjusted gross income
= Adjusted gross income (AGI) (bottom of 1040)
AGI - standard deduction - exemptions = TAXABLE INCOME.

Everything is included on 1040. You have to file additional forms for different type of income, but they all flow to 1040.


352 posted on 09/17/2012 9:48:40 PM PDT by tony777
[ Post Reply | Private Reply | To 320 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson