The 1040 Handbook : A Guide to Income and Asset Discovery, Eighth Edition / Jack Zuckerman and Ron E. Thompson.

Format:

Book

Author/Creator:

Zuckerman, Jack, author.

Thompson, Ron E., author.

Language:

English

Subjects (All):

Income tax--Law and legislation--United States.

Income tax.

Tax returns--United States.

Tax returns.

Husband and wife--Taxation--United States.

Husband and wife.

Physical Description:

1 online resource (82 pages)

Place of Publication:

Chicago, Illinois : American Bar Association, [2022]

Summary:

This one-of-a-kind resource explains how to use the 1040 return as a discovery tool in divorce cases -- in practice, not theory. Showing where to start a review of an individual's return and how to discover cash flow, the existence of assets and other valuables, The 1040 Handbook provides practical assistance for drafting a detailed and effective discovery plan for assets and income, personal as well as business. Using a hypothetical couple's 2020 tax return, The 1040 Handbook provides a line-by-line analysis of the federal tax form and its schedules to suggest appropriate areas of inquiry. Author Jack Zuckerman shows what each line reveals about a couple's assets and the income, and notes the clues that should be followed up on, the red flags to watch for, and the indications that additional key documents exist and should be obtained. It also discusses the important facts to gather during the initial client consultation and how the 1040 form can be used to: Draft a tentative list of assets Identify appropriate areas of inquiry Ask the appropriate questions Develop a list of additional documents to obtain Individual chapters cover the 1040's most commonly used schedules and forms, providing a clearly written discussion of each along with a sample form. In addition, this book offers a wealth of information on: Identifying income and assets Recognizing assets disguised as deductions Tip-offs to predivorce movement of assets Business expenses that could be considered income Deductions and assets that may be future tax liabilities IRAs and Keogh accounts And much more!

Contents:

Intro

Title Page

Copyright Page

Contents

PREFACE

About the Authors

THE CONSTRUCT

FORM 1040, Pages 1 and 2

SCHEDULE A: Itemized Deductions

SCHEDULE B: Interest and Dividends

SCHEDULE C: Profit or Loss from Business

SCHEDULE D: Capital Gains and Losses

SCHEDULE E: Supplemental Income and Loss

SCHEDULE F: Profit or Loss from Farming

SCHEDULE SE: Self-Employment Tax

FORM 2441: Child and Dependent Care Expenses

FORM 4797: Sales of Business Property

FORM 6251: Alternative Minimum Tax-Individuals

FORM 4562: Depreciation/Amortization

FORM 8582: Passive Activity Loss Limitations

Index

Back Cover.

Notes:

Includes index.

Description based on print version record.

Other Format:

Print version: Zuckerman, Jack The 1040 Handbook

ISBN:

1-63905-061-2