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Description:

This book is for preparing 2022 taxes. Divorce can be an emotional rollercoaster for both parties involved. Understanding the complications and economic effect at the tax level reassures taxpayers that their returns have been prepared properly. It’s your responsibility as the tax preparer to explain the tax implications of divorce and report the income and expenses correctly on the individuals’ returns.

When children are involved, it can be tricky to determine which taxpayer may claim the child for certain tax provisions. Also, knowing how to distinguish between child support and other payments is required to complete the tax return properly. Being prepared when clients come to you in the midst of a divorce can alleviate tax filing problems. This book will help you prepare forms for Form 1040.

View Table of Contents.

Topics include:

• Identifying the most appropriate filing status for divorced or separated taxpayers
• Summarizing the exceptions to joint and several liability when a joint return has been filed
• Determining which parent is eligible to treat their child as a dependent for various tax benefits
• Identifying the custodial parent for tax purposes
• Differentiating alimony, child support and property settlements
• Summarizing the tax treatment of a qualified domestic relations order (QDRO)
• Determining if a divorced taxpayer has any tax carryforwards
• Assessing community property state complications

Product Details:

Item Number: 22334

Level: Basic

Authors: NATP Staff

Published: 2022

Format: Print - 86 Pages

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Corresponding CPE Courses:

Get the e-book FREE when you purchase the corresponding 2022 course when available.