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How to Read Your (IRS Form 1040) Tax Return -April 2013
- 1. How to Read Your 1040
April 25, 2013
Charlottesville Senior Center
David John Marotta
www.MarottaOnMoney.com
- 12. [7] Wages, salaries, tips, etc.
+ [12] Business Income
+ [16a] Pensions and annuities
+ [20a] Social security benefits
INCOME=
- 35. $5,700
Standard
Deduction
$5,700
Standard
Deduction
$5,700
Standard
Deduction
$5,700
Standard
Deduction
$4,000
Itemized
Deduction
$4,000
Itemized
Deduction
$4,000
Itemized
Deduction
$4,000
Itemized
Deduction
$8,000
Itemized
Deduction
$8,000
Itemized
Deduction
- 41. INCOME
- [60] Federal Taxes
- [A-5a] State Taxes
- Taxable Savings
- [A-19] Unusually High Charitable Giving
STANDARD OF LIVING (SOL) =
- 45. [43] – [9a] – [13]
Base taxable income =
[43] Taxable Income
- [9a] Qualified Dividends
- [13] Capital Gains.
- 49. How to Read Your 1040
April 25, 2013
Charlottesville Senior Center
David John Marotta
www.MarottaOnMoney.com
Editor's Notes
- Don’t forget the “Back door” approach to Roth