TAX-AIDE

TAX-AIDE

Other Income

Pub 4491 – Page 149

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TAX-AIDE

Intake/Interview

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TAX-AIDE

Form 1040 – Line 21

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TAX-AIDE

Examples:

●Reported on 1099-MISC, Box 3

●Gambling winnings including lotteries and raffles

●Prizes and awards

● Jury duty pay

●Medical study subject pay

Pub 17, pg 94

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TAX-AIDE

Other Income

●Generally does NOT include 1099-MISC non-employee compensation (Box 7) which is business income – Sch C

●Does NOT include 1099-MISC rent or royalty income which are reported on Form 1040 line 17

● Includes income not reported on other lines and schedules

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TAX-AIDE

Line 21 in TaxWise

Link to Other Income Worksheet

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TAX-AIDE

Link to W-2G

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TAX-AIDENTTC Training – 2013 8

TAX-AIDE

Bottom of W-2G

Check if not taxable by state

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TAX-AIDE

Income – Quality Review

The final question with respect to income:

Did you have any other income?

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TAX-AIDE

Other Income

Questions?

Comments…

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TAX-AIDE

Let’s Practice

● Open Kent/Bryant Pub 4491W pp 66-67 and enter

Unemployment Compensation Social Security Benefits and W-2G (Gambling) Income

Check refund monitor

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