personal exemptions n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Personal Exemptions PowerPoint Presentation
Download Presentation
Personal Exemptions

Loading in 2 Seconds...

play fullscreen
1 / 5

Personal Exemptions - PowerPoint PPT Presentation


  • 146 Views
  • Uploaded on

4491-05 Personal Exemptions v1.0 VO.ppt. Personal Exemptions. Pub 4012 Tab C Form 1040 Lines 6, 42 Pub 17 Chapter 3. LEVEL 2 TOPIC. Exemptions. Pub 4012: Page C-2. Exemptions. Personal exemption for TP & Spouse Dependent exemption for each: Qualifying child Qualifying relative.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Personal Exemptions' - mikkel


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
personal exemptions

4491-05 Personal Exemptions v1.0 VO.ppt

Personal Exemptions

Pub 4012 Tab C

Form 1040 Lines 6, 42

Pub 17 Chapter 3

LEVEL 2 TOPIC

NJ Training TY2010 v1.0

exemptions
Exemptions
  • Pub 4012: Page C-2

NJ Training TY2010 v1.0

exemptions1
Exemptions
  • Personal exemption for TP & Spouse
  • Dependent exemption for each:
    • Qualifying child
    • Qualifying relative

NJ Training TY2010 v1.0

personal exemptions1
Personal Exemptions
  • One for taxpayer and one for spouse when filing jointly
  • TP is ineligible if another can claim them
  • Widow/er, if not remarried by 12/31, can claim spouse in year of death i.e. MFJ
  • MFS can claim spouse – if spouse has no gross income, spouse not filing a return, and spouse not the dependent of another taxpayer

NJ Training TY2010 v1.0

state of new jersey differences state vs federal
State of New JerseyDifferences: State vs Federal
  • Exemptions
    • State:
      • Can claim personal exemption for self, even if a minor and also is claimed on parent’s return
      • Can claim additional exemption if blind or disabled
    • Full-time students as exemptions in
      • State – if under 22 - “Dependent Attending College” Box on TaxWise
      • Federal – if under 24 - Included in TaxWise with any other dependents in “Dependent” section of Form 1040
  • Note: No Common Law marriage for NJ

NJ Training TY2010 v1.0