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: E22334
Level: Basic
Authors: NATP Staff
Published: 2022
Format: Electronic PDF - 86 Pages
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Corresponding CPE Courses:
Get this e-book FREE when you purchase the 2022 corresponding course when available.
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