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John & Ruth Kaiser
2168 Eagle Court
Rocklin, CA 95677
|
Balance | Your federal tax return (Form 1040) shows you are due a refund of
Due/ | $2,091.00.
Refund |
______________________________________________________________________________________
|
|
What You | Your tax return - The official return for mailing is included in
Need to | this printout. Remember to sign and date the return.
Mail |
| Attach the first copy or Copy B of Form(s) W-2 to the front of your
| Form 1040.
|
| Mail your return and attachments to:
| Department of the Treasury
| Internal Revenue Service Center
| Fresno, CA 93888-0002
|
| Deadline: Postmarked by Monday, April 18, 2011
|
| Note: Your state return may be due on a different date. Please
| review your state filing instructions.
|
| Don't forget correct postage on the envelope.
______________________________________________________________________________________
|
|
What You | Keep these instructions and a copy of your return for your records.
Need to | If you did not print one before closing TurboTax, go back to the
Keep | program and select Print & File tab, then select the Print for Your
| Records category.
______________________________________________________________________________________
|
|
2010 | Adjusted Gross Income $ 92,826.00
Federal | Taxable Income $ 43,979.00
Tax | Total Tax $ 11,877.00
Return | Total Payments/Credits $ 13,968.00
Summary | Amount to be Refunded $ 2,091.00
| Effective Tax Rate 4.01%
______________________________________________________________________________________
|
|
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You Need to | 2010 income tax return. The estimated vouchers displayed below are
Make | used to prepay your 2011 income taxes that will be filed next year.
| If you expect to owe more than $1,000 in 2011, you may incur
| underpayment penalties if you do not make these four estimated tax
| payments. This printout includes your estimated tax vouchers for your
| federal estimated taxes (Form 1040-ES).
______________________________________________________________________________________
|
Page 1 of 2
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2168 Eagle Court
Rocklin, CA 95677
|
Payments | Mail payments according to the schedule below:
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Make | Voucher Number Due Date Amount
(Continued) | 1 04/18/2011 $ 1,678.00
| 2 06/15/2011 $ 1,678.00
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|
| Include a separate check or money order for each payment, payable to
| "United States Treasury". Write your social security number and "Form
| 1040-ES" on each check.
|
| Mail payments to:
| Internal Revenue Service
| P.O. Box 510000
| San Francisco, CA 94151-5100
______________________________________________________________________________________
|
|
Changed | You can still file electronically. Just go back to TurboTax, select
Your Mind | the Print & File tab, then select the E-file category. We'll walk
About | you through the process. Once you file, we will let you know if your
e-filing? | return is accepted (or rejected) by the Internal Revenue Service.
______________________________________________________________________________________
|
Page 2 of 2
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426-53-5261 426-81-7492
JOHN KAISER INTERNAL REVENUE SERVICE
RUTH KAISER PO BOX 510000
2168 EAGLE COURT SAN FRANCISCO CA 94151-5100
ROCKLIN CA 95677
426-53-5261 426-81-7492
JOHN KAISER INTERNAL REVENUE SERVICE
RUTH KAISER PO BOX 510000
2168 EAGLE COURT SAN FRANCISCO CA 94151-5100
ROCKLIN CA 95677
426-53-5261 426-81-7492
JOHN KAISER INTERNAL REVENUE SERVICE
RUTH KAISER PO BOX 510000
2168 EAGLE COURT SAN FRANCISCO CA 94151-5100
ROCKLIN CA 95677
426-53-5261 426-81-7492
JOHN KAISER INTERNAL REVENUE SERVICE
RUTH KAISER PO BOX 510000
2168 EAGLE COURT SAN FRANCISCO CA 94151-5100
ROCKLIN CA 95677
Form 1040 U.S. Individual Income Tax Return 2010 (99) IRS Use Only ' Do not write or staple in this space.
For the year Jan 1 - Dec 31, 2010, or other tax year beginning , 2010, ending , 20 OMB No. 1545-0074
Name, Your first name MI Last name Your social security number
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24 Add lines 21 through 23 24 800.
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Part IV Information on Your Vehicle. Complete this part only if you are claiming car or truck expenses on line 9 and are not
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45 Was your vehicle available for personal use during off-duty hours? Yes No
46 Do you (or your spouse) have another vehicle available for personal use? Yes No
Gifts 609.
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FDIZ0112 12/27/10
2010
Short-Term
Part
Long-Term
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Capital
12
John
12/02/04
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04/25/03
11/30/10
02/08/10
09/02/10
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Part II Long-Term Capital Gains and Losses ' Assets Held More Than One Year
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BAA For Paperwork Reduction Act Notice, see your tax return instructions. Schedule D (Form 1040) 2010
FDIA0612 12/22/10
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Schedule D (Form 1040) 2010 John & Ruth Kaiser 426-53-5261 Page 2
18 Enter the amount, if any, from line 7 of the 28% Rate Gain Worksheet in the instructions GEnter
18 the amount, if any, from line 7 of
19 Enter the amount, if any, from line 18 of the Unrecaptured Section 1250 Gain Worksheet in
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19instructions
No. Complete Form 1040 through line 43, or Form 1040NR through line 41. Then complete the Schedule
D Tax Worksheet in the instructions. Do not complete lines 21 and 22 below.
21 If line 16 is a loss, enter here and on Form 1040, line 13, or Form 1040NR, line 14, the smaller of:
Note. When figuring which amount is smaller, treat both amounts as positive numbers.
22 Do you have qualified dividends on Form 1040, line 9b, or Form 1040NR, line 10b?
Yes. Complete Form 1040 through line 43, or Form 1040NR through line 41. Then complete the Qualified
Dividends and Capital Gain Tax Worksheet in the Instructions for Form 1040, line 44 (or in the
Instructions for Form 1040NR, line 42).
No. Complete the rest of Form 1040 or Form 1040NR.
FDIA0612 12/22/10
2010
I
G
H
Self-Employment
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Christian Science practitioner who received IRS approval
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box 14, code A 1a
b If you received social security retirement or disability benefits, enter the amount of Conservation Reserve
Program payments included on Schedule F, line 6b, or listed on Schedule K-1 (Form 1065), box 20,
code Y 1b
2 Net profit or (loss) from Schedule C, line 31; Schedule C-EZ, line 3; Schedule K-1 (Form 1065), box 14,
code A (other than farming); and Schedule K-1 (Form 1065-B), box 9, code J1. Ministers and members
of religious orders, see instrs for types of income to report on this line. See instrs for other income
to report 2 57,703.
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line 29, and enter the result (see instructions) 3 57,703.
4 Multiply line 3 by 92.35% (.9235). If less than $400, you do not owe self-employment tax; do not file this
schedule unless you have an amount on line 1b Gschedule
4 53,289.
unless you have an amount o
Note. If line 4 is less than $400 due to Conservation Reserve Program payments on line 1b, see instructions.
? $106,800 or less, multiply line 4 by 15.3% (.153). Enter the result here and on Form 1040, line 56,
or Form 1040NR, line 54.
? More than $106,800, multiply line 4 by 2.9% (.029). Then, add $13,243.20 to the result. Enter the 5 8,153.
total here and on Form 1040, line 56, or Form 1040NR, line 54.
6
Deduction for one-half of self-employment tax. Multiply line 5 by 50% (.50).
Enter the result here and on Form 1040, line 27 or Form 1040NR, line 27 6 4,077.
BAA For Paperwork Reduction Act Notice, see your tax return instructions. Schedule SE (Form 1040) 2010
FDIA1101 12/29/10
2010
G
50
G 8863
Education
Lifetime
CAUTION!
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3 (b) Student's social (c) Qualified
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5 Enter the smaller of line 4 or $10,000 5 7,100.
6Tentative lifetime learning credit. Multiply line 5 by 20% (.20). If you have an entry on line 2, go to Part III;
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12 If line 10 is:
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? Less than line 11, divide line 10 by line 11. Enter the result as a decimal (rounded
to at least three places) 12
13 Multiply line 7 by line 12. Caution: If you were under age 24 at the end of the year and meet the
conditions in the instructions, you cannot take the refundable American opportunity credit. Skip
line 14, enter the amount from line 13 on line 15, and check this box Gline 14,
13 enter the amount from line 13 on li
14 Refundable American opportunity credit. Multiply line 13 by 40% (.40). Enter the amount here and on Form
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Part IV Nonrefundable Education Credits
15 Subtract line 14 from line 13 15
16 Enter the amount from line 6, if any. If you have no entry on line 6, skip lines 17 through 22, and enter the
amount from line 15 on line 6 of the Credit Limit Worksheet (see instructions) 16 1,420.
17 Enter: $120,000 if married filing jointly; $60,000 if single, head of household,
or qualifying widow(er) 17 120,000.
18 Enter the amount from Form 1040, line 38,* or Form 1040A, line 22 18 92,826.
19 Subtract line 18 from line 17. If zero or less, skip lines 20 and 21, and enter
zero on line 22 19 27,174.
20 Enter: $20,000 if married filing jointly; $10,000 if single, head of household,
or qualifying widow(er) 20 20,000.
21 If line 19 is:
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? Less than line 20, divide line 19 by line 20. Enter the result as a decimal (rounded to at least three
places) 21 1.000
22 Multiply line 16 by line 21. Enter here and on line 1 of the Credit Limit Worksheet (see instructions) GMultiply
22 1,420.
line 16 by line 21. Enter here a
23 Nonrefundable education credits. Enter the amount from line 11 of the Credit Limit Worksheet (see
instructions) here and on Form 1040, line 49, or Form 1040A, line 31 23 1,420.
* If you are filing Form 2555, 2555-EZ, or 4563, or you are excluding income from Puerto Rico, see Pub 970 for the amount to enter.
FDIA3601 12/31/10
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20 a Class life S/L
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Part IV Summary (See instructions.)
21 Listed property. Enter amount from line 28 21 4,800.
22 Total. Add amounts from line 12, lines 14 through 17, lines 19 and 20 in column (g), and line 21. Enter here and on
the appropriate lines of your return. Partnerships and S corporations ' see instructions 22 8,983.
23 For assets shown above and placed in service during the current year, enter
the portion of the basis attributable to section 263A costs 23
BAA For Paperwork Reduction Act Notice, see separate instructions. FDIZ0812 10/29/10 Form 4562 (2010)
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25 Special depreciation allowance for qualified listed property placed in service during the tax year and
used more than 50% in a qualified business use (see instructions) 25
26 Property used more than 50% in a qualified business use:
2009 BMW 08/01/09 100.00 45,000. 37,000. 5.00 200 DB-HY 4,800.
28 Add amounts in column (h), lines 25 through 27. Enter here and on line 21, page 1 28 4,800.
29 Add amounts in column (i), line 26. Enter here and on line 7, page 1 29
Section B ' Information on Use of Vehicles
Complete this section for vehicles used by a sole proprietor, partner, or other 'more than 5% owner,' or related person. If you provided vehicles
to your employees, first answer the questions in Section C to see if you meet an exception to completing this section for those vehicles.
(a) (b) (c) (d) (e) (f)
30 Total business/investment miles driven Vehicle 1 Vehicle 2 Vehicle 3 Vehicle 4 Vehicle 5 Vehicle 6
during the year (do not include
commuting miles) 18,000
31 Total commuting miles driven during the year 0
32 Total other personal (noncommuting)
miles driven 0
33 Total miles driven during the year. Add
lines 30 through 32 18,000
Yes No Yes No Yes No Yes No Yes No Yes No
34 Was the vehicle available for personal use
during off-duty hours? X
35 Was the vehicle used primarily by a more
than 5% owner or related person? X
36 Is another vehicle available for
personal use? X
Section C ' Questions for Employers Who Provide Vehicles for Use by Their Employees
Answer these questions to determine if you meet an exception to completing Section B for vehicles used by employees who are not more than
5% owners or related persons (see instructions).
Yes No
37 Do you maintain a written policy statement that prohibits all personal use of vehicles, including commuting,
by your employees?
38 Do you maintain a written policy statement that prohibits personal use of vehicles, except commuting, by your
employees? See the instructions for vehicles used by corporate officers, directors, or 1% or more owners
39 Do you treat all use of vehicles by employees as personal use?
40 Do you provide more than five vehicles to your employees, obtain information from your employees about the use of the
vehicles, and retain the information received?
41 Do you meet the requirements concerning qualified automobile demonstration use? (See instructions.)
Note: If your answer to 37, 38, 39, 40, or 41 is 'Yes,' do not complete Section B for the covered vehicles.
Part VI Amortization
(a) (b) (c) (d) (e) (f)
Description of costs Date amortization Amortizable Code Amortization Amortization
begins amount section period or for this year
percentage
42 Amortization of costs that begins during your 2010 tax year (see instructions):
Note: If the amount you claimed as a deduction for an item is $500 or less, you do not have to complete columns (d), (e), and (f).
(c) Date of the (d) Date (e) How acquired (f) Donor's cost or (g) Fair market (h) Method used to determine the fair
contribution acquired by by donor adjusted basis value market value
donor (mo., yr) (see instructions)
A 12/31/2010 12/2010 Purchase 2,150. 2,150.
B
C
D
E
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a property listed in Part I. Complete lines 3a through 3c if conditions were placed on a contribution
listed in Part I; also attach the required statement (see instructions).
2 a Enter the letter from Part I that identifies the property for which you gave less than an entire interest GEnter the letter
. from Pa
If Part II applies to more than one property, attach a separate statement.
b Total amount claimed as a deduction for the property listed in Part I: (1) For this tax year GFor this tax year .
(2) For any prior tax years GFor any prior tax years .
c Name and address of each organization to which any such contribution was made in a prior year (complete only if different from
the donee organization above):
d For tangible property, enter the place where the property is located or kept G
e Name of any person, other than donee organization, having actual possession of the property G
Yes No
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including the right to vote donated securities, to acquire the property by purchase or otherwise, or to designate the person
having such income, possession, or right to acquire?
c Is there a restriction limiting the donated property for a particular use?
BAA For Paperwork Reduction Act Notice, see separate instructions. FDIZ1812 12/31/10 Form 8283 (Rev 12-2006)
GG
Section
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8283
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See instructions
(d) Date (e) How acquired (f) Donor's cost (g) For bargain sales, (h) Amount claimed (i) Average trading
acquired by by donor or adjusted basis enter amount received as a deduction price of securities
donor (mo, yr)
A
B
C
D
Part II Taxpayer (Donor) Statement ' List each item included in Part I above that the appraisal identifies as having a
value of $500 or less. See instructions.
I declare that the following item(s) included in Part I above has to the best of my knowledge and belief an appraised value of not more than $500 (per item).
Enter identifying letter from Part I and describe the specific item. (See instructions). G
Also, I declare that I hold myself out to the public as an appraiser or perform appraisals on a regular basis; and that because of my
qualifications as described in the appraisal, I am qualified to make appraisals of the type of property being valued. I certify that the appraisal
fees were not based on a percentage of the appraised property value. Furthermore, I understand that a false or fraudulent overstatement of
the property value as described in the qualified appraisal or this Form 8283 may subject me to the penalty under section 6701(a) (aiding and
abetting the understatement of tax liability). In addition, I understand that a substantial or gross valuation misstatement resulting from the
appraisal of the value of the property that I know, or reasonably should know, would be used in connection with a return or claim for refund,
may subject me to the penalty under section 6695A. I affirm that I have not been barred from presenting evidence or testimony by the
Office of Professional Responsibility.
Sign
Here Signature G Title G Date G
Business address (including room or suite no.) Identifying number
Address (number, street and room or suite no.) City or town State ZIP code
Caution: You cannot take the making work pay credit if you can be claimed as someone else's dependent or if you are a nonresident alien.
Important: Check the 'No' box on line 1a and see the instructions if:
(a) You have a net loss from a business,
(b) You received a taxable scholarship or fellowship grant not reported on a Form W-2,
(c) Your wages include pay for work performed while an inmate in a penal institution,
(d) You received a pension or annuity from a nonqualified deferred compensation plan or a nongovernmental
section 457 plan, or
(e) You are filing Form 2555 or 2555-EZ.
1 a Do you (and your spouse if filing jointly) have 2010 wages of more than $6,451 ($12,903 if married filing jointly)?
X Yes. Skip lines 1a through 3. Enter $400 ($800 if married filing jointly) on line 4 and go to line 5.
No. Enter your earned income (see instructions) 1a
4 Enter the smaller of line 2 or line 3 (unless you checked 'Yes' on line 1a) 4 800.
5 Enter the amount from Form 1040, line 38*, or Form 1040A, line 22 5 92,826.
Yes. Enter the total of the payments you (and your spouse, if filing jointly) received in 2010.
Do not enter more than $250 ($500 if married filing jointly) 10 0.
11 Making work pay credit. Subtract line 10 from line 9. If zero or less, enter -0-. Enter the result here and on
Form 1040, line 63; or Form 1040A, line 40 11 800.
*If you are filing Form 2555, 2555-EZ, or 4563 or you are excluding income from Puerto Rico, see instructions.
BAA For Paperwork Reduction Act Notice, see your tax return instructions. Schedule M (Form 1040A or 1040) 2010
FDIA8501 09/20/10
2010
G
hr
%
9 8829
Expenses
Figure
Depreciation
Carryover
176
Part
John
Subtract
Carryover
Allowable
Enter II
III
IIV
Deductible
10
Real
11
12
13
14
15
22
23
Carryover
24
25
26
Limit
27
28
29
30
31
32
Add
33
Casualty
34
Allowable
35
36
Value
37
Basis
38
Business
39 of
426-53-5261
Computer
800
3,200
8,760
25.00
19,836.
4,800.
4,000.
8,800.
2,200.
17,636.
800.
4,200.
600.
200.
5,600.
1,400.
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16,036.
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540,000.
20,000.
520,000.
130,000.
2.5641
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0.
G
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your
8
(a)
(b)
Depreciation
40
41
Operating
42
43
BAA
Form
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Use
Area
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1
Total
2
3
For
Multiply
4
5
Divide
6
7
Excess
16
Insurance
17
Rent
18
Repairs
19
Utilities
20
Other
21
46
2 See
3
5 File
Direct
Indirect
daycare
a
line
lines
home
estate
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area
8829
the
of
Depreciation
Total
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See hours
the
FDIA6902
OMB
Department
Internal
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Sequence
Name(s)
Your instrs
social
No. Your
lineYour
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For
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land
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loss
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smaller
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14
1545-0074
No.
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Allowable
Home
Consulting
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26,
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casualty
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02/07/11
security
of columns
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from
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8829
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36
each
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facilities
and
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exclusively
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13
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instructions)
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26
7(365
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D
depreciation.
less, home
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linefor
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26
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enter
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go to
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(enter instructions)
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the inventory
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see
enter
here
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result instructions
and
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or
on of
7 Business percentage. For daycare facilities not used exclusively for business, multiply line 6 by line 3 (enter the result as a
percentage). All others, enter the amount from line 3 Gpercentage).
7 25.00
All others, %
enter the amount from lin
Part II Figure Your Allowable Deduction
8 Enter the amount from Schedule C, line 29, plus any net gain or (loss) derived from the business use of
your home and shown on Schedule D or Form 4797. If more than one place of business, see instructions 8 19,836.
See instrs for columns (a) and (b) before completing lines 9-21. (a) Direct expenses (b) Indirect expenses
9 Casualty losses (see instructions) 9
10 Deductible mortgage interest (see instructions) 10 4,800.
11 Real estate taxes (see instructions) 11 4,000.
12 Add lines 9, 10, and 11 12 8,800.
13 Multiply line 12, column (b) by line 7 13 2,200.
14 Add line 12, column (a) and line 13 14 2,200.
15 Subtract line 14 from line 8. If zero or less, enter -0- 15 17,636.
16 Excess mortgage interest (see instructions) 16
17 Insurance 17 800.
18 Rent 18
19 Repairs and maintenance 19 200.
20 Utilities 20 4,200.
21 Other expenses (see instrs) 21 600.
22 Add lines 16 through 21 22 200. 5,600.
23 Multiply line 22, column (b) by line 7 23 1,400.
24 Carryover of operating expenses from 2009 Form 8829, line 42 24
25 Add line 22 column (a), line 23, and line 24 25 1,600.
26 Allowable operating expenses. Enter the smaller of line 15 or line 25 26 1,600.
27 Limit on excess casualty losses and depreciation. Subtract line 26 from line 15 27 16,036.
28 Excess casualty losses (see instructions) 28
29 Depreciation of your home from line 41 below 29 3,333.
30 Carryover of excess casualty losses and depreciation from 2009 Form 8829, line 43 30
31 Add lines 28 through 30 31 3,333.
32 Allowable excess casualty losses and depreciation. Enter the smaller of line 27 or line 31 32 3,333.
33 Add lines 14, 26, and 32 33 7,133.
34 Casualty loss portion, if any, from lines 14 and 32. Carry amount to Form 4684 (see instructions) 34
35 Allowable expenses for business use of your home. Subtract line 34 from line 33. Enter here and on
Schedule C, line 30. If your home was used for more than one business, see instructions GSchedule
35 C, line 30.7,133.
If your home was
Part III Depreciation of Your Home
36 Enter the smaller of your home's adjusted basis or its fair market value (see instructions) 36 540,000.
37 Value of land included on line 36 37 20,000.
38 Basis of building. Subtract line 37 from line 36 38 520,000.
39 Business basis of building. Multiply line 38 by line 7 39 130,000.
40 Depreciation percentage (see instructions) 40 2.5641 %
41 Depreciation allowable (see instructions). Multiply line 39 by line 40. Enter here and on line 29 above 41 3,333.
Part IV Carryover of Unallowed Expenses to 2011
42 Operating expenses. Subtract line 26 from line 25. If less than zero, enter -0- 42 0.
43 Excess casualty losses and depreciation. Subtract line 32 from line 31. If less than zero, enter -0- 43 0.
BAA For Paperwork Reduction Act Notice, see your tax return instructions. FDIA6902 02/07/11 Form 8829 (2010)
Qualified
2010
G
Form
Line
John
1,000.
X
3,100.
68,000.
43,979.
39,879.
4,100.
0.
5,759.
5,144.
1
1040,
2
Are
Yes.
Schedule
or
3
No.
from
line
4
If
figure
expense
amount
form.
5
6
7
Enter:
$34,000
married
$68,000
8
13
Subtract
14
Multiply
15
16
Add
17
Figure
$100,000,
$100,000
18
Tax
Form
19 single
Name(s)
Social 44
426-53-5261
qualifying
$45,550
if
9
10
11
12
Enter
married
head
filing
loss,
Keep
you
15
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on 1040
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lines
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Enter
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SecurityRuth
Otherwise
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line
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enter
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Shown IfDividends
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smaller
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2
15
household.
16
widow(er),
filing
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taxable
use
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1040,
the
the
and
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line
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14
and
of
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5
6
10
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9
6 orline
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43 Gain
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the
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amount
17
onor
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line
on
7 18
1 isline
less
here
7 is
1 than
and on
Form 1040 Qualified Dividends and Capital Gain Tax Worksheet 2010
Line 44 G Keep for your records
5 Complete columns (b) and (d) for each purchase lot from which the shares shown on line 2b were sold.
Also complete either column (e), price per share, or column (f), total price of shares, for each lot.
Enter reinvested dividends in Part VI of the Capital Gain Transaction Worksheet.
7 For first-in, first-out (FIFO) method or average single-category method, make no entries in this section.
For specific identification method, check the lots from which shares were sold. g
11 Total short-term
12 Total long-term 1,000.0000 12,000.00
Part V Summary
Note: Maximum contribution calculations herein assume only one Taxpayer Spouse
plan. Multiple plan contributions: see Help.
Money Purchase Plan or Multiple Plans (see Help)
1 a Enter the total contributions made and/or expected to be made to
a money purchase Keogh plan for 2010
b Keogh contributions from Schedule(s) K-1
c Total contributions to money purchase Keogh plan
d Check here to compute the maximum deductible contribution
Profit Sharing Plan
2 a Enter the total contributions made and/or expected to be made to
a profit sharing Keogh plan for 2010
b Keogh contributions from Schedule(s) K-1
c Total contributions to profit sharing Keogh plan
d Check here to compute the maximum deductible contribution
Defined Benefit Plan
3 a Enter the total contributions made and/or expected to be made to
a defined benefit Keogh plan for 2010
b Keogh contributions from Schedule(s) K-1
c Total Keogh contributions to defined benefit plan
SEP
4 a Enter the total contributions made and/or expected to be made to
a Simplified Employee Pension (SEP) plan for 2010 8,000.
b SEP contributions from Schedule(s) K-1
c Total SEP contributions 8,000.
d Check here to compute the maximum deductible contribution
SIMPLE
5 a Enter total contributions made to a SIMPLE Retirement Plan for
2010 (Do not include matching contributions)
b SIMPLE contributions from Schedule(s) K-1
c Total SIMPLE contributions
d Enter matching contributions only to report on Form 1040, line 28
Individual 401(k) (Do not include Roth 401(k) contributions)
6 a Enter elective deferrals made to an individual 401(k) plan for 2010
excluding catch-up contributions
b Elective deferrals to an individual 401(k) plan from Sch K-1
c Enter catch-up contributions made to an individual 401(k) plan
d Total elective deferrals including catch-up contributions made to
an individual 401(k) plan for 2010
e Enter the total employer matching (profit sharing) contributions
made to an individual 401(k) plan for 2010
f Check here to compute the maximum deductible contribution
Roth 401(k) (deferrals to designated Roth 401(k)s are not deductible)
7 a Enter elective deferrals made to a qualified Roth 401(k) plan for
2010 excluding catch-up contributions
b Elective deferrals to a Roth 401(k) plan from Schedule(s) K-1
c Enter catch-up contributions made to a Roth 401(k) plan
d Total elective deferrals including catch-up contributions made to
a qualified Roth 401(k) plan for 2010
Part
SEP
Rate:
Steps:
John
21
If II
III
and
otherwise
deductible
$245,000
you
the --and
426-53-5261
0.250
1.250
57,703.
4,077.
53,626.
0.200
61,250.
49,000.
10,725.
Page
in &
calculation
A
B
Plan
C
1
2
a
One-half
b
Adjustment
c
Total
3
Net
4
Self-employed
5
6
Multiply
7
8
Contribution
elective
any
9
10
11
12
13
14
15
Note:
calculate
Individual
16
Subtract
17
Allowable
profit
earnings
entries
steps Adjustment
contributions)
18
19
Add
20
Enter
steps Detail
Individual
Ruth
contribution
adjustment
net
one-half
29
any
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the
made
calculation
The
If step
$245,000
deferrals
you
step
of
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the
amount
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subtract
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non-farm
by
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13,
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program of
contribution
of Maximum
Kaiser
self-employment
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in
17
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from
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maximum
9to
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15
Part
15,
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to
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from
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an Net
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of
of
to
by
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and
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limit
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contributions
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will
designated
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line
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step
11
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18
4rate
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have
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6.
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9
16
8contribution
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Subtract
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Help)
smaller
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8, for Money
Contribution
Purchase,Calculation
Profit Sharing,
Part II - Adjustment to Net Earnings Used for Maximum Deductible Contribution Calculation
1 a Enter any farm adjustment to farm net earnings for use in the
calculation of maximum deductible contribution
b Enter any non-farm adjustment to non-farm net earnings for use
in the calculation of maximum deductible contribution
c Total adjustment to net earnings for use in the
calculation of maximum deductible contribution
Part III - Detail of Maximum Allowable Deduction Calculation for Money Purchase, Profit Sharing,
SEP and Individual 401(k) Plans
Rate:
A Plan contribution rate (not reduced rate) 0.250
B Plan contribution rate on line A plus one 1.250
C Self-employed reduced rate. Divide line A by line B 0.200
Steps:
1a Net profit from self-employment (See Help) 57,703.
b Adjustment to net earnings (from Part II, line 1c above)
c Total net profit 57,703.
2a One-half of self-employment tax (on net profit) (See Help) 4,077.
b Adjustment to self-employment tax (for adj to net earnings)
c Total one-half of self-employment tax 4,077.
3 Net earnings from self-employment. Subtract step 2c from 1c 53,626.
4 Self-employed reduced rate as a decimal (from line C above) 0.200
5 Multiply step 3 by step 4 10,725.
6 Multiply $245,000 by plan contribution rate (not reduced rate) 61,250.
7 Enter the smaller of step 5 or step 6 10,725.
8 Contribution dollar limit (not more than $49,000; multiply
$245,000 by self-employed reduced rate) 49,000.
Estimated Tax Payments for 2010 (If more than 4 payments for any state or locality, see Tax Help)
Tot Estimated
Payments 8,800. 1,600.
Automatic
1 Launch OPTIMIZER - Check to launch Automatic Education Expense Optimizer now GLaunch OPTIMIZER - Che
2 Automatic - Check to use the Credit choices calculated in Part I, column (e) above GAutomatic
X - Check to use
or
3 Manual - Check to use the Credit choices you entered in Part I, column (d) above GManual - Check to use th
G
PartTax
John
Net
1
Making
2
Earned
3
General
a III
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4
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DEPRECIATION
Printer 05/16/10 850 100.00 850 0 0 5.0 200DB/HY 0
SUBTOTAL CURRENT YEAR 850 0 850 0 0 0 0
2168 Eagle Ct H 06/01/07 520,000 20,000 25.00 130,000 39.0 SL/MM 3,333
2009 BMW A 08/01/09 45,000 100.00 8,000 37,000 5.0 200DB/HY 2,960 4,800
SUBTOTAL PRIOR YEAR 565,000 20,000 0 8,000 167,000 2,960 8,133
DEPRECIATION
Printer 05/16/10 850 100.00 850 0 0 5.0 200DB/HY 0 0.
SUBTOTAL CURRENT YEAR 850 0 850 0 0 0 0 0.
2168 Eagle Ct H 06/01/07 520,000 20,000 25.00 130,000 39.0 SL/MM 3,333 0.
2009 BMW A 08/01/09 45,000 100.00 8,000 37,000 5.0 200DB/HY 2,960 4,800 0.
SUBTOTAL PRIOR YEAR 565,000 20,000 0 8,000 167,000 2,960 8,133 0.