Carson Tax Return Scenario

Frank and Marilyn Carson are sample clients. You are going to prepare their 2019 return using GoSystem Tax. The Carsons have completed an Organizer booklet that contains most of the information you need to complete this training return. Some of the information already appears in the tax return since this return was completed by your firm last year. Other information you will have to enter.

The Organizer Booklet

Begin by reviewing the Carsons’ Organizer booklet information. Here are some things to note in the information that will be important when you enter data into the tax application.

• Some information is rolled over from 2018. You will need to verify this information.
• There are some items you will have to add to the return.
• There are some proforma’d items that rolled over from 2018 that you will need to delete to complete the return.

Items To Note

• Marilyn Carson changed jobs in 2019.
• The Carsons closed a bank account in 2018, that has proforma’d to 2019. Delete the proforma’d data that does not pertain to 2019.
• A consolidated 1099 was added in 2019, which includes dividend income and capital gains and losses.
• Marilyn Carson started a small business, so you will need to add a new Schedule C.
• The Schedule C business has an asset, so you will need to depreciate it.
• The Carsons had capital gains and losses.
• The Carsons had various itemized deductions.

Normally when information is proforma’d from the prior year, the address information, martial status, and dependent information would roll over. For case study purposes, you will need to enter and verify this information.

 

 

 

Case Study Facts/carson_scenario.htm/TY2019

Last Modified: 09/20/2019

Last System Build: 06/17/2021

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