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Topics for Experienced Counselors Districts may wish to add or delete items from this list 11-09-2015NJ TAX TY2014 v11.

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Presentation on theme: "Topics for Experienced Counselors Districts may wish to add or delete items from this list 11-09-2015NJ TAX TY2014 v11."— Presentation transcript:

1 Topics for Experienced Counselors Districts may wish to add or delete items from this list 11-09-2015NJ TAX TY2014 v11

2 Topics for Experienced Counselors Refer taxpayers with the following situations to an experienced counselor: Amended or prior year returns Can be done using prior year TaxWise software (https://twonline.taxwise.com/13 (or other prior year) Amended returns for prior years cannot be e-filed Married same sex couples may file amended returns choosing to be treated as married for 1 or more prior tax years under statute of limitations * Domestic Partnership for NJ return Sale of main home* Tip income* * TaxPrep4Free.org Special Topics document available 11-09-2015NJ TAX TY2014 v1 2

3 Topics for Experienced Counselors Refer taxpayers with the following situations to an experienced counselor: Non-deductible portion of IRA (Form 8606)* Qualified tuition program distributions (Taxable portion, 529 plans only) Repayment of homebuyers credit (after disposition of home) – Form 5405* Handling false/spurious net operating loss* * TaxPrep4Free.org Special Topics document available (cont’d) 11-09-2015NJ TAX TY2014 v1 3

4 Topics for Experienced Counselors Refer taxpayers with the following situations to an experienced counselor: NY nonresident income tax return for wages only* NJ resident with PA withholding* NJ resident with Philadelphia wage tax* Partially taxable property tax recoveries to be netted on Schedule A Lump sum Social Security payments* * TaxPrep4Free.org Special Topics document available (cont’d) 11-09-2015NJ TAX TY2014 v1 4

5 Topics for Experienced Counselors Refer taxpayers with the following situations to an experienced counselor: Rent or royalty on 1099-MISC* Screening for potential casualty loss* Cancellation of debt Foreclosure/Abandonment of Principal Residence on which there is a secured mortgage (1099-A, Schedule D) Cancellation of debt on mortgage secured by principal residence (1099-C, Form 982)* Health Savings Account (HSA)* * TaxPrep4Free.org Special Topics document available (cont’d) 11-09-2015NJ TAX TY2014 v1 5

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