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One Day Returning Counselor Training – Dist 5. Bob Eslinger Pacific Region Training Advisor. AGENDA – RETURNING COUNSELOR ONE DAY TRAINING. INTRODUCTIONS. Name How long have you been with AARP? What site do you serve? What one question would you like answered?. Page A-1. Page A-2.

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One Day Returning Counselor Training – Dist 5

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One day returning counselor training dist 5

One Day Returning Counselor Training – Dist 5

Bob Eslinger

Pacific Region Training Advisor


Agenda returning counselor one day training

AGENDA – RETURNING COUNSELOR ONE DAY TRAINING


Introductions

INTRODUCTIONS

Name

How long have you been with AARP?

What site do you serve?

What one question would you like answered?


One day returning counselor training dist 5

Page A-1


One day returning counselor training dist 5

Page A-2


One day returning counselor training dist 5

Page A-2


One day returning counselor training dist 5

Page A-3


One day returning counselor training dist 5

Page A-3


Must should file quiz 1

MUST/SHOULD FILE QUIZ #1

Miranda, 17, is claimed on her parents’ return

W-2 shows $2,000 in wages and Federal tax withheld of $155

Grandparents gave her a $3,000 CD as a gift

She has no other income

Must or should Miranda file?


Must should file quiz 1 answer

MUST/SHOULD FILE QUIZ #1 ANSWER

Miranda, 17, is claimed on her parents’ return

W-2 shows $2,000 in wages and federal tax withheld of $155

Grandparents gave her a $3,000 CD as a gift

Must or should Miranda file?

Should: to get back her withholding

CD is a gift – not counted in income


Must should file quiz 2

MUST/SHOULD FILE QUIZ #2

Kathy, 22, attends college full time

Earned $850 babysitting

Plus $3,000 reported on a W-2; no tax was withheld

Must or should Kathy file?


Must should file quiz 2 answer

MUST/SHOULD FILE QUIZ #2 ANSWER

Kathy, 22, attends college full time

Earned $850 babysitting

Plus $3,000 reported on a W-2; no tax was withheld

Must or should Kathy file?

Must: had >$400 in self-employment

If only W-2, would not have needed to file


One day returning counselor training dist 5

Page H-2


Eic quiz 1 tab h

EIC QUIZ #1Tab H

A 65-year-old gentleman, with no qualifying children, earned $5,000.

Taxwise does not give him any EIC. Is this correct?


Eic quiz 1 answer tab h

EIC QUIZ #1 ANSWERTab H

A 65-year-old gentleman, with no qualifying children, earned $5,000.

Taxwise does not give him any EIC. Is this correct?

YES. He is too old to get the EIC. He is 65 years old.


Eic quiz 2

EIC QUIZ #2

A young father of two earns $15,000.

He sells his only stock, inherited from his mother, and makes a $3,500 capital gain.

He is expecting a sizeable EIC. Is he correct?


Eic quiz 2 answer

EIC QUIZ #2 ANSWER

A young father of two earns $15,000.

He sells his only stock, inherited from his mother, and makes a $3,500 capital gain.

He is expecting a sizeable EIC. Is he correct?

NO.He gets nothing because his investment income is over the limit.


One day returning counselor training dist 5

Page C-3


Exemptions quiz 1 tab c

EXEMPTIONS QUIZ #1TAB C

John supports his wife’s Uncle George who lives in another city and has $2,400 of taxable income

John files MFJ

Can John claim George as a dependent if all other tests met?


Exemptions quiz 3

EXEMPTIONS QUIZ #3

Ralph is 64 and lives with his son and daughter-in-law all year

Ralph earned $4,700

Can Ralph’s son claim him as a dependent?


Exemptions 3 answer

EXEMPTIONS #3 ANSWER

  • Ralph is 64 and lives with his son and daughter-in-law all year

  • Ralph earned $4,700

    Can Ralph’s son claim him as a dependent?

    • NO

      Income over $3,800


Exemptions quiz 4

EXEMPTIONS QUIZ #4

Ralph’s children are also supporting his friend, Fred, who lives with them

Fred’s only income is social security of $5,000

Can Fred be claimed?


Exemptions 4 answer

EXEMPTIONS #4 ANSWER

  • Ralph’s children are also supporting his friend, Fred, who lives with them

  • Fred’s only income is social security of $5,000

    Can Fred be claimed?

    • YES

      Gross income test does not count income that is exempt from tax


Exemptions quiz 5

EXEMPTIONS QUIZ #5

Jennifer, age 25, is a full-time student, lived at home with her parents all year, and her parents provided over half of her support

Jennifer made $3,000

Can Jennifer's parents claim her

as a dependent?


Exemptions quiz 5 answer a

EXEMPTIONS QUIZ #5 – ANSWER A

Is Jennifer a Qualifying Child?

  • NO

    She satisfies the residency and relationship tests, but not the age test

    If Jennifer is not a Qualifying Child, is she a Qualifying Relative Dependent?


Exemptions quiz 5 answer b

EXEMPTIONS QUIZ #5 – ANSWER B

Is Jennifer a Qualifying Relative Dependent?

  • YES

  • She is their daughter

  • She earned less than $3,800

  • Parents provided >50% support

  • Not the Qualifying Child of another

  • Can be claimed if all other tests met


  • Exemptions quiz 6

    EXEMPTIONS QUIZ #6

    Stacy has a son, Ben, age 14, and they lived with Stacy's boyfriend (who is not Ben's father) all year

    Stacy made $7,000 and her boyfriend made $50,000

    Can Stacy’s boyfriend claim Ben as a dependent?


    Exemptions quiz 6 answers

    EXEMPTIONS QUIZ #6 – ANSWERS

    • NO, if Stacy files a return

    • Ben would be a Qualifying Child of Stacy

    • YES, if Stacy does not file a return OR files ONLY to get a refund of withholding

    • Ben could be a Qualifying Relative Dependent of Stacy’s boyfriend

      It might be more beneficial, however, for Stacy to file and claim the EIC


    One day returning counselor training dist 5

    Page B-1


    One day returning counselor training dist 5

    Page B-3


    Filing status quiz 1 tab b

    FILING STATUS QUIZ #1TAB B

    • Mrs. Doe is divorced

    • Pays >50% cost of the home she shares with her 20-year-old daughter, Emily

    • Emily is single, works part time, and earned $4,000 that she spent on herself. She is not a student

      Can Mrs. Doe file as Head of Household?


    Filing status quiz 1 answers

    FILING STATUS QUIZ #1 ANSWERS

    • Can Mrs. Doe file as Head of Household?

    • NO

      • Emily is not a Qualifying Child

        • >18 years of age

        • Not a student

      • Emily is not a Qualifying Relative Dependent

        • Income >$3,700


    Filing status quiz 2

    FILING STATUS QUIZ #2

    • Mr. Buck provides total support for his two young children

    • His wife died in 2009, and he has not remarried

      What is the best filing status for

      Mr. Buck?


    Filing status quiz 2 answer 1

    FILING STATUS QUIZ #2ANSWER 1

    • What is the best filing status for

    • Mr. Buck?

    • HEAD OF HOUSEHOLD

    • What would have been best in TY2011?


    Filing status quiz 2 answer 2

    FILING STATUS QUIZ #2ANSWER 2

    • What would have been best in TY2011?

    • QUALIFYING WIDOW(ER)

      with Dependent Child


    Filing status quiz 3

    FILING STATUS QUIZ #3

    • Jane, 69, whose husband died July 1, had a $20,000 pension and $15,000 in social security in the tax year

    • Her 10-year-old grandson lived with her and is her dependent

      What is the best filing status for Jane?


    Filing status quiz 3 answer 1

    FILING STATUS QUIZ #3ANSWER 1

    What is the best filing status for Jane?

    • MARRIED FILING JOINT

      Assuming nothing changes,

      what filing status is best for the following tax years?


    Filing status quiz 3 answer 2

    FILING STATUS QUIZ #3ANSWER 2

    Assuming nothing changes,

    what filing status is best for the following tax years?

    • HEAD OF HOUSEHOLD

      Grandchild is not a qualifying child dependent for Qualifying Widow(er) with Dependent Child purposes

      – own child or stepchild only


    Filing status quiz 4

    FILING STATUS QUIZ #4

    • Luke and Linda are still married, but chose to live apart for most of the year

    • Their two children lived with Linda all year

    • In July, Luke was out of a job so he moved back in the house for just that month

      What filing status can they each choose?


    Filing status 4 answer

    FILING STATUS #4 ANSWER

    • Luke and Linda are still married, but chose to live apart for most of the year

    • Their two children lived with Linda all year

    • In July, Luke was out of a job so he moved back in the house for just that month

      What filing status can they

      each choose?

    • MFJ or MFS

      (both must use same status)


    Filing status quiz 5

    FILING STATUS QUIZ #5

    • Dick and Jane are married, lived apart all year, and are filing separate returns

    • Their 25-year-old daughter Jody lived with Jane all year while attending school full-time

    • Jody earned $2,500 during the summer

      What is Jane’s best filing status?


    Filing status quiz 5 answer 1

    FILING STATUS QUIZ #5 ANSWER 1

    What is Jane’s best filing status?

    • HEAD OF HOUSEHOLD

      What would Jane’s filing status be if

      Jody earned $3,900?


    Filing status quiz 5 answer 2

    FILING STATUS QUIZ #5ANSWER 2

    What would Jane’s filing status be if

    Jody earned $3,900?

    MARRIED FILING SEPARATELY


    Filing status quiz 6

    FILING STATUS QUIZ #6

    • Sarah, age 62, has a 40 year old son living with her

    • He earned $40,000 and put all of it in the bank

      Can Sarah claim Head of Household?


    Filing status quiz 6 answer

    FILING STATUS QUIZ #6 ANSWER

    Can Sarah claim Head of Household?

    • NO

      Son must be either a Qualifying Child or a Qualifying Relative

      • Not a Qualifying Child: age

      • Not a Qualifying Relative: income >$3,700


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