1040 Frazer Case Study Facts (CASFRM)

Printable Case Study Facts

Thomas and Deborah Frazer are married and file a joint return. Several dependents lived with them the past year. They received three Schedule K-1s, have employee business expenses, paid a household employee, and purchased a new residence this year. Thomas also serves in the National Guard. Any tax refund computed should be applied to the 2020 estimated tax. They also need to file a Georgia return and any refunds should be applied to 2020 as well.

Targeted Areas

• Taxpayer Information
• Dependent Information
• W-2 Information
• Interest Income
• Seller Financed Mortgage Interest
• Dividend Income
• Schedule C Information
• Depreciation
• Rental Property
• Personal/Business Use Property
• Miscellaneous income
• Prior Year Installment Sale
• Disposition of depreciable property
• Employee Business expenses
• Household Employment Taxes
• Child and Dependent Care Credit
• Transmittal letter and filing instructions
• Current year non-deductible IRA contributions
• Contributions cash and other noncash contributions
• *Georgia Resident Return
• Child’s Interest Income
• Gambling Wins/Losses
• Tax Exempt Interest
• Foreign Dividend Income
• Business expenses
• Office-In-Home
• K-1 Data
• Capital Gains and Losses
• IRA contribution
• Itemized deductions
• Estimated tax payments
• Foreign Tax Credit

Return Information

• Taxpayer Information
• Dependent Information
• W-2 Information
• Interest Income
• Dividend Income
• Business Income (Schedule C and Office-In-Home)
  • Property and Equipment
  • Office in Home
• Rental Property
  • Suspended Losses
  • Property and Equipment
• Business/Personal Use Property
  • Property and Equipment
• Partnership and S Corporation Schedule K-1s
  • Publicly Traded Partnership
• Miscellaneous Income
• Gambling Wins/Losses
• Child’s Interest Income
• Capital Gains and Losses
• Carryover Information
• Installment Sales
• Sale of Home
• IRA Contributions
  • Non-Deductible IRA Information
• Employee Business Expenses
  • Vehicle Information
• Itemized Deductions
  • Medical
  • Estimated Tax Payments
  • Other Taxes
  • Investment Interest Expense
  • Miscellaneous Itemized Deductions
• Charitable Contributions
  • Cash Contributions
  • Noncash Contributions
• Taxes
  • Household Employees
  • Federal Unemployment (FUTA) Tax
• Credits
  • Child and Dependent Credit
  • Foreign Tax Credit
  • Foreign Source Income and Deductions
  • FTC Taxes Paid/Accrued
  • FTC Carryovers
• Estimates and Penalties
  • Estimated Tax Payments
  • Underpayment Penalties
• Transmittal Letter and Filing Instructions
• Georgia
  • Activating the State
  • Estimated Taxes for Georgia
• Reviewing the Return

 

 

 

Case Study Facts/frazer_intro.htm/TY2019

Last Modified: 03/19/2020

Last System Build: 06/17/2021

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