2009 H&R Block At Home Lab Instructions, Whittenburg & Altus-Buller
Ch. 7 Comprehensive Problem 1: Hopson
Open H&R Block 2009, and update it.
Select the Start a Return button.
From the menu, select Forms/Open Forms, and start by filling in a Background Worksheet, found under Form 1040. Only fill in the information you have.
For Sherry's Schedule C, fill in a description for A. For B, Business category is Retail Stores and Dealers, and the Code is Family clothing stores. Check Accrual for F, and check Yes for G. Enter the income and expenses.
For Part III, Cost of Goods Sold, line 33, check box a Cost, and for line 34 check No.
To enter the information on the vehicle for Form 4562, open a Depreciation Worksheet, found under Form 4562. On line 1, enter the description, on line 2a, select Schedule C, and on line 2b, select Copy 1. On line 3a, enter 6/1/2009, and on line 4a, select the type of asset. On line 8 a i, enter the cost.
To enter the information on the desk and file cabinets for Form 4562, open another Depreciation Worksheet. On line 1, enter the description, on line 2a, select Schedule C, and on line 2b, select Copy 1. On line 3a, enter 6/1/2009, and on line 4a, select the type of asset. On line 8 a i, enter the cost.
Open another Depreciation Worksheet for the computer. On line 1, enter the description, on line 2a, select Schedule C, and on line 2b, select Copy 1. On line 3a, enter 6/1/2009, and on line 4a, select the type of asset. On line 8 a i, enter the cost.
This is a Form 1040, so you don't need to choose the Form - Form 1040 is the default.
Save the file by selecting File/Save from the menu.
Then File/Save As PDF. The software will save two returns - one For Filing and one For Records. Review the Schedule C and the Form 4562 in the Tax Return for Filing.
Ch. 7 Comprehensive Problem 2: Williams
Open H&R Block 2009, and update it.
Select the Start a Return button.
From the menu, select Forms/Open Forms, and start by filling in a Background Worksheet, found under Form 1040. Only fill in the information you have, but you will need to enter dates of birth. Enter the occupations as nouns.
Select Hide Form, and then fill in a W-2 Worksheet, found under Form 1040, for Larry.
Select Hide Form, and then to try for the Making Work Pay credit, open a Schedule M, and in the Economic Recovery Payments section, select No for questions a and b.
Fill out a Form 1099-INT/OID for the interest income, and enter the early withdrawal penalty in box 2.
The Williams’ itemize. For Schedule A, enter the home mortgage interest on the Home Mortgage Interest Worksheet. For Description of property, enter Principal residence, and answer Yes to the question about paying this interest to a financial institution. Enter the amount in Part A, on line 1.
The real estate taxes can be entered directly on Schedule A, on the Mini-Worksheet for Line 6, Real Estate Taxes, on line d i.
Total the medical expenses, and enter them directly on Schedule A, on the Mini-Worksheet for Line 1, Medical Expenses, on line a.
The income tax return preparation fee can also be entered directly on Schedule A, on line 22.
For the contribution of the painting to the museum, open Noncash or Item Donations and fill in the information for Part A. The property type for line 8 is Capital gain 30% limit. For Part D, select No for all three questions, and fill in the information for Part E.
For the other three charitable contributions, open a Charitable Donations Worksheet and for Part 1, on line 1a, enter each charity name and amount. For Type, select 50% limit.
Enter the safe deposit box rental amount on the Mini-Worksheet for Line 23, on line a.
Enter their State and local sales taxes paid during 2009 on the Mini-Worksheet for Line 5, State and Local Sales Taxes, on line b, Other general sales taxes paid in 2009. You also have to check the box for General Sales Taxes on line 5b.
The loss on the sale of the land is disallowed because it's a sale to a related party, and it's not reported.
For the IRA contributions, open an IRA Contribution Worksheet and for part B line 2 enter 5,000 for Larry and 5,000 for Lisa.
This is a Form 1040, so you don't need to choose the Form - Form 1040 is the default.
Save the file by selecting File/Save from the menu.
Then File/Save As PDF. The software will save two returns - one For Filing and one For Records. Review the Tax Return for Filing.
In addition to the tax forms in the text, the software will generate a blank Page 2 for Schedule A and a Form 8283.
The software will not generate a Schedule B or a Schedule D, because they are not required.
Ch. 7 Cumulative Software Problem: Incisor
Open H&R Block 2009, and update it.
From the menu, select File/Open Saved Return, and select Open return for Ivan Incisor Ch 6 2009 Tax Return.
To remove the private activity bond interest income, open the Form 1099-INT/OID for that interest and delete the form.
To enter the information on the building for Form 4562, open a Depreciation Worksheet. On line 1, enter the description, on line 2a, select Schedule C, and on line 2b, select Copy 1. On line 3a, enter 12/12/2009, and on line 4a, select the type of asset. On line 8 a i, enter the total cost of the building and land, and on line 8 a ii, enter the cost of the land.
For the stock sales, open a Capital Gains and Losses Worksheet. Record the information on the sale to Ivan's uncle. The loss on the sale of stock to Ivan's sister is disallowed because it's a sale to a related party, and it's not reported.
This will be a Form 1040, so you don't need to choose the Form - Form 1040 is the default.
Save the file by selecting File/Save As from the menu. Name the return Ivan Incisor Ch 7 2009 Tax Return.
Then File/Save As PDF. The software will save two returns - one For Filing and one For Records. Review the Tax Return for Filing.
In addition to the tax forms in the text, the software will generate a blank Page 2 for Schedule A, a blank Page 2 for Form 4684 and a Form 8880 to take the $400 credit for qualified retirement savings contributions.
The software will not generate a Qualified Dividends and Capital Gain Tax Worksheet as part of the return, but you can view it if you'd like - open a Schedule D, and see the Schedule D Tax Worksheet below line 22. The software will not generate a Schedule B because it is not required.