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AARP Foundation Tax-Aide
Introduction to Federal Income Tax Law NTTC Training – 2014
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Tax Law Basics All income is taxable, No deduction is allowed,
unless the law says it is not No deduction is allowed, unless the law says it is No credit is allowed, NTTC Training – 2014
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Tax Law Basics Income Less adjustments = Adjusted gross Income Less deductions and exemptions = Taxable Income NTTC Training – 2014
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Form 1040 Identity, filing status and exemptions Income Adjustments
Deductions and exemptions Tax and nonrefundable credits Additional taxes Refundable credits NTTC Training – 2014
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Form 1040 Select one status as shown on this form 1040.
NTTC Training – 2014
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Income NTTC Training – 2014
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Adjustments NTTC Training – 2014
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Page 2 Nonrefundable NTTC Training – 2014
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Page 2 Nonrefundable NTTC Training – 2014
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Page 2 cont. Refundable Lines 61 and 69 are new this year as a result of ACA. If the taxpayer and all dependent have Minimum Essential Coverage (MEC), the box on line 61 is checked. A Shared Responsibility Payment (SRP) is entered on line 61. A refundable net premium tax credit as determined from Form 8962 is entered on line 69. NTTC Training – 2014
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Training Materials Pub 4491 – Training Guide
Pub 4491W – Problems and Exercises for Practice Pub 4012 – Resource Guide Pub 5157 – VITA/TCE Affordable Care Act Form 6674 – Certification Test and Retest Pub 17 – Your Federal Income Tax for Individuals NTTC Training – 2014
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The Text Book evergreen NTTC Training – 2014
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Pub 4491 Follows Form 1040 order Note that Pub 5157 Affordable Care Act has been added NTTC Training – 2014
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Pub 4491 (cont) NTTC Training – 2014
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Work-book evergreen NTTC Training – 2014
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Pub 4491W NTTC Training – 2014
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The Golden Book Primary Reference Tool Contains new ACA Tab
NTTC Training – 2014
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Text Book for Affordable Care Act
New Resource for 2014 NTTC Training – 2014
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The Test NTTC Training – 2014
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Basic Test not required for AARP Tax-Aide
The Test Basic Test not required for AARP Tax-Aide NTTC Training – 2014
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Tax Law Details NTTC Training – 2014
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Details Line-by Line 3 NTTC Training – 2014
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Introduction to Income Tax
Questions… Comments… NTTC Training – 2014
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