CPA Reg module 1
Adjustments to AGI - ANSeducator expenses, IRA contrabutions (traditional), student loan
interest, health savings account, moving expenses**, one half-self employment taxes, self
employed health insurance, self employed retirement, interest withdrawal pentalty, alimony
paid before 2018, tuition and fees deduction, qualified charitable contributions
adjustments from AGI - ANSmedical above the floor, state and local taxes, interest expense,
charity (up to 60% of agi), causualty and theft from federal disaster
Minimum amount of SS income that is taxable - ANS$400
qualified widower - ANSgood for two years after spouses death
principal residence for dependent child
cannot be foster child
whole year
must pay over half the cost
HOH - ANScannot be resident alien
maintains household for at least half of the year for dependent child, parent or relative
qualified child - ANSchild, stepchild, adopted, pretty much any child
Qualified relatives - ANSanyone except cousin, foster parents, unrelated dependents
- must live with taxpayer
- if a parent they do not need to live with taxpayer
Cares - ANSQualifying child test
C- close relative
A - age limit 19 but 24 if a student
R- residency and filing requirements (6 months)
E- eliminate gross income
S- support test (50%)
SUPORT - ANSQR test
S- support test (50% or more)
U- under AGI test (4300)
P- precludes dependent filing a joint tax return
O- only US, Canadian, or Mexican citizenship
R - relative test
T - taxpayer lives with for full-year unless parent
Multiple Support Agreement - ANStwo or more people combined to pay for more than 50%
of the qualifying relative's support. One will claim the individual
Adjustments to AGI - ANSeducator expenses, IRA contrabutions (traditional), student loan
interest, health savings account, moving expenses**, one half-self employment taxes, self
employed health insurance, self employed retirement, interest withdrawal pentalty, alimony
paid before 2018, tuition and fees deduction, qualified charitable contributions
adjustments from AGI - ANSmedical above the floor, state and local taxes, interest expense,
charity (up to 60% of agi), causualty and theft from federal disaster
Minimum amount of SS income that is taxable - ANS$400
qualified widower - ANSgood for two years after spouses death
principal residence for dependent child
cannot be foster child
whole year
must pay over half the cost
HOH - ANScannot be resident alien
maintains household for at least half of the year for dependent child, parent or relative
qualified child - ANSchild, stepchild, adopted, pretty much any child
Qualified relatives - ANSanyone except cousin, foster parents, unrelated dependents
- must live with taxpayer
- if a parent they do not need to live with taxpayer
Cares - ANSQualifying child test
C- close relative
A - age limit 19 but 24 if a student
R- residency and filing requirements (6 months)
E- eliminate gross income
S- support test (50%)
SUPORT - ANSQR test
S- support test (50% or more)
U- under AGI test (4300)
P- precludes dependent filing a joint tax return
O- only US, Canadian, or Mexican citizenship
R - relative test
T - taxpayer lives with for full-year unless parent
Multiple Support Agreement - ANStwo or more people combined to pay for more than 50%
of the qualifying relative's support. One will claim the individual
