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Tables of Contents for Turbotax Deluxe
Chapter/Section Title
Page #
Page Count
Acknowledgments
xiv
Introduction
xv
Part I Getting Started
Tax Law Changes for 2000 and Beyond
3
10
Changes That Affect Everyone
4
3
Widening Tax Brackets
4
1
Standard Deduction Increases
5
1
Personal Exemptions Amounts Changing
6
1
Itemized Deduction Limitation
6
1
Social Security Threshold Changes
7
1
Changes for the Self Employed
7
1
Changes for Investors in Retirement Funds
8
1
Changes for College Students Paying Back Loans
9
1
Changes for Parents
9
1
Changes for Landlords
10
3
Assembling Your Tax Information Before You Begin
13
18
Documents That Identify Your Income
14
6
W-2 Forms
14
4
1099 Forms
18
1
Bank Statements
19
1
Broker Statements
20
1
Documents That Identify Your Expenses
20
8
Saving Purchase Receipts
22
1
Saving Credit Card Statements
23
1
Receipts for Charitable Donations
24
4
Organizing Your Tax Documents
28
3
Order of Income Documents
28
1
Order of Expense Documents
28
3
Tax Scenarios
31
22
Scenarios for Single Taxpayers
32
5
Tax Brackets for Single Taxpayers
32
1
Exemptions
33
2
Typical Deductions
35
1
Additional Taxes
35
1
Available Credits
36
1
National Averages
36
1
Scenarios for Married Taxpayers
37
4
Tax Brackets
37
1
What Is the Marriage Tax Penalty?
38
1
Exemptions
38
1
Typical Deductions
39
1
Additional Taxes
39
1
Available Credits
39
1
National Averages
40
1
Scenarios for Taxpayers with Children
41
3
Tax Brackets for Head of Household
41
1
Exemptions
42
1
Typical Deductions
42
1
Available Credits
42
1
National Averages
43
1
Scenarios for Business Owners
44
2
Tax Brackets
44
1
Exemptions
44
1
Typical Deductions
44
1
Additional Taxes
45
1
Available Credits
45
1
National Averages
46
1
Scenarios for Elderly Taxpayers
46
7
Tax Brackets
46
1
Retirement Income
47
1
Standard Deduction
47
1
Typical Deductions
47
1
Available Credits
48
5
Part II Using TurboTax to Prepare Your Tax Return
Getting Started with TurboTax
53
26
Using the TurboTax Interview
54
9
Navigating Around Your Tax Return
54
3
Viewing Your Forms
57
1
Viewing Your Tax Summary
58
3
Getting Help from Your TurboTax Program
61
1
Exit TurboTax and Return Later
62
1
Switching from Interview to Forms, and Black Again
63
2
Referring to Last Year's Return
65
2
Special Tips for Quicken and QuickBooks Users
67
3
Importing from Quicken
67
2
Importing from QuickBooks
69
1
Entering Personal Information
70
9
Choose a Filing Status
70
2
Enter or Verify Name, Address, Social Security Number
72
2
Answering Questions
74
1
Entering Dependents
75
4
Entering Income into TurboTax
79
84
Using TurboTax's New Automated Tax Return
80
1
W-2 Income from Your Job
81
10
Entering Details from Your W-2s into TurboTax
82
8
If You Need to Change Any W-2 Information
90
1
Reporting Sales of Stock, Mutual Funds, and Other Investments
91
5
Capital Gain Tax Rates
92
1
Entering Basic Information About the Investment
93
1
Selling Stock
94
1
Selling Shares of Mutual Funds
95
1
Selling Other Investments
95
1
Interest Income
96
4
Dividend Income
100
2
Entering Dividends Reported on 1099 Forms
101
1
Accounting for Stock Dividends
101
1
Income from Your Own Business
102
24
Are You an Employee or an Independent Contractor?
102
1
Entering Income Reported on 1099 Forms
103
3
Entering Other Income
106
1
Cash versus Accrual Accounting
107
1
Entering Business Expenses
108
7
Taking a Home Office Deduction
115
5
Entering Auto Expenses
120
4
Entering Information About Business Assets
124
2
Income from Rental Property
126
5
Full-time Rental versus Vacation Rental
126
1
Entering Rental Income
127
1
Entering Rental Expenses
128
3
Nondeductible Losses from Rental Property
131
1
Income from Farming Operations
131
9
Farm Return Due Date
132
1
Entering Farm Income
133
1
Farm Income Averaging
134
1
Entering Expenses Relating to Farming
135
1
Depreciating Farm Property
136
2
Income or Expense of Farm Rental
138
2
K-1 Income from Partnerships, S Corporations, Trusts
140
5
Entering Partnership Information
140
1
Passive Activities
141
2
Entering S Corporation Information
143
1
Entering Trust and Estate Information
144
1
Selling Your Home
145
4
Determining Your Gain on the Sale of Your Home
146
3
Retirement Income
149
4
Social Security Benefits
150
1
Pension Income
150
1
IRA Income
151
2
Other Forms of Income
153
10
Gambling Income
154
2
Prize Winnings
156
1
Hobby Income
157
1
Jury Duty
158
1
Scholarship Income
158
1
Alimony
159
1
Unemployment Compensation
160
1
Income You Don't Have to Report to the IRS
160
3
Reducing Your Income with Adjustments
163
26
Tax-Deferred Retirement Plans
164
13
Keogh, SEP, and SIMPLE Plans
165
2
Contributions to 401(k) and 403(b) Plans
167
1
Contributions to an IRA
168
5
The Roth IRA
173
2
Conversions to a Roth IRA
175
2
Medical Savings Accounts
177
3
Adjustment for MSA Contributions
177
2
Warning About MSA Accounts
179
1
Adjustments for the Self Employed
180
2
Adjustment for Self-Employment Tax
180
1
Adjustment for Medical Insurance
181
1
Moving Expenses
182
4
Moving Expenses You Can Deduct
183
1
When to Deduct Moving Expenses
184
1
NonDeductible Moving Expenses
185
1
Employer Reimbursement for Moving Expenses
185
1
Student Loan Interest
186
1
What Interest Expenses Can You Deduct?
186
1
Who Qualifies for the Deduction?
186
1
Alimony
187
2
Reducing Your Income with Deductions
189
42
Which Taxpayers Can Itemize?
190
1
Medical Expenses
191
6
Types of Medical Expense You Can Deduct
192
2
Mileage Expenses for Medical Purposes
194
1
Deducting Health Insurance Premiums
195
2
Medical Expenses for Dependents and Others
197
1
Taxes You Paid
197
8
State and Local Income Taxes
198
5
Taxes on Property
203
2
Interest You Paid
205
5
Home Mortgage Interest
206
2
Points
208
2
Charitable Contributions
210
8
What Is an Authorized Charity?
210
1
Cash Contributions
211
1
Non-Cash Contributions
212
3
Limit of Deduction for Contributions
215
1
Unused Contributions Deduction
216
1
Donations of Travel
216
1
Donations of Time
217
1
Nondeductible Contributions
217
1
Casualty and Theft Losses
218
4
How Much Did You Lose?
219
1
Proving the Loss Occurred
219
1
How Much Can You Deduct?
220
1
Insurance Coverage for a Loss
221
1
Other Deductions
222
9
Job-Related Expenses
223
1
Job-Hunting Costs
224
1
Education Costs
225
1
Tax-Related Expenses
226
1
Investment-Related Costs
227
1
Gambling Losses
228
3
Taking All the Tax Credits You Can
231
16
Claiming the Child and Dependent Care Credit
232
3
Who Qualifies for the Credit?
232
3
Taking the Child Tax Credit
235
1
Using the Education Credits
236
2
The Hope Scholarship Credit
236
2
The Lifetime Learning Credit
238
1
Taking Advantage of the Adoption Credit
238
2
Who Qualifies for This Credit?
239
1
When Should the Adoption Credit Be Claimed?
240
1
Cashing In on the Fuel Tax Credit
240
1
Claiming the Foreign Tax Credit
241
1
Calculating the Earned Income Credit
242
2
Taking the Credit for the Elderly or the Disabled
244
3
Paying Additional Taxes
247
16
The Nanny Tax on Household Employees
248
2
Kiddie Tax on Your Child's Income
250
4
Tax Rate for Children of Divorced or Separated Parents
251
1
Preparing an Income Tax Return for Your Child
252
1
Adding the Child's Income to the Parents' Tax Return
253
1
The Alternative Minimum Tax
254
3
Recover Your AMT Tax with a Credit
255
2
Paying Tax on Tips
257
1
Paying Self Employment Tax
258
1
How Much Do You Have to Pay?
258
1
Quarterly Estimated Payment Considerations
259
1
Paying the Penalty on Early Withdrawal from an IRA
259
4
Exceptions to the Penalty on Early Withdrawal
260
3
Preparing Your State Tax Return
263
8
Reviewing Changes to Your State's Tax Laws
264
2
Entering State Information
266
1
Paying State Taxes When You Move During the Year
266
1
Paying state Taxes When You Live and Work inn Multiple States
267
4
Finalizing Your Tax Return
271
16
Updating Your TurboTax Software
272
1
Check Your Return for Errors
272
3
Running the Final Review
273
1
Finding Errors Using the Forms Method
274
1
Printing Your Tax Return
275
5
Print Return for Filing
276
1
Tax Return for Your Records
277
1
Printing Selected Forms
278
1
Print the Form You're Working On
279
1
Filing Your Return Electronically
280
2
Sign Consent Form
280
1
Checking on the Status of an Electronically Filed Return
281
1
Electronic Tax Return Due Date
281
1
Mailing Your Tax Return
282
5
Don't Forget!
282
1
Where Does the Tax Return Get Mailed?
283
4
Part III Internet Resources to Help You File Your Taxes
Exploring Tax Sites
287
14
Using the TurboTax Web Site
288
2
Using the IRS's Web Site
290
3
Checking on the Latest Changes to Tax Rules
292
1
Get a Head Start on Next Year's Taxes
292
1
Using Your State's Web Site
293
1
Other Internet Sites Relating to Taxes
293
5
Assessing Internet Security
298
3
Using TurboTax for the Web
301
10
Information to Gather Before You Begin
302
1
What to Expect from Your e-Experience
302
3
TurboTax for the Web and Security
304
1
Advantages to Using TurboTax for the Web
304
1
Filling in the Blanks
305
1
Prepare Your State Tax Return
305
1
Print a Test Copy of Your Tax Return
305
1
Follow the Interview
305
1
Use the Automated Tax Return Process
306
1
Printing Your Tax Return for Your Records
306
1
Filing the Return
307
1
Checking Your Status
307
4
Part IV Dealing with the IRS
Waiting for Your Refund
311
8
How Long Should You Wait?
312
1
Checking on Your Refund
313
1
Checking on an Electronic Refund
313
2
Refund Status If You Used the TurboTax Program
313
1
Refund Status If You e-Filed at the TurboTax Web Site
314
1
e-Refund Status by Telephone, 24 Hours a Day
315
1
Refund for the Wrong Amount
315
1
Interest Earned on Late Refunds
315
2
Choosing to Let the IRS Keep Your Refund
316
1
Saving Your Refund for a Rainy Day
316
1
Refunds That Never Come
317
2
Paying Tax to the Government
319
12
Tax Due with Your Tax Return
320
3
Your Income Increased in 2000
320
1
Some of Your Income Is Not Subject to Withholding
321
1
Your Tax Situation Has Changed Since Last Year
321
1
Your Income Is Too High for Certain Tax Benefits
322
1
You Own Your Own Business
323
1
Options for Withholding Tax
323
3
Claim More Withholding Allowances
323
2
Claim Fewer Withholding Allowances
325
1
Claim Extra Withholding
326
1
Stagger Your Withholding
326
1
Estimated Payments
326
2
How Much Should You Pay?
327
1
Calculate Your Actual Tax
327
1
Installment Agreements
328
1
Offer in Compromise
329
2
Amending Your Tax Return
331
12
Situations That Require Amending
332
1
How Far Back Can You Go?
333
1
Amending Your Return
333
10
Where in TurboTax Do I Amend My Return?
334
2
Entering Information for the 1040X
336
3
Enter Explanations
339
1
Attachments to the 1040X
339
1
Mailing Your 1040X
340
3
Communicating with the IRS
343
14
IRS Letters Requesting Information
344
2
The Incomplete for Processing Letter
344
1
The Notice of Tax Due and Demand for Payment
345
1
Statement of Changes to Your Account
345
1
IRS Letters Associated with an Audit
346
2
The Audit Letter
346
1
The 30-Day Letter
347
1
The 90-Day Letter
347
1
Preparing for an Audit
348
3
Keeping Taxpayers in Line
348
1
Determining National Averages
348
1
Types of Audits
349
1
Stay Calm
349
1
What Should You Bring to an Audit?
350
1
What Shouldn't You Bring to an Audit?
350
1
Your Appearance and Mannerisms
351
1
Sending Someone in Your Place
351
1
Appealing IRS Decisions
351
6
Try to Settle Without an Appeal
352
1
How to Appeal
352
5
Part V Good Tax Sense for the Future
Recordkeeping
357
8
Keep Your TurboTax File in a Safe Place
358
2
Same Computer, Next Year
358
1
Making a Copy of Your Tax File
358
2
Keeping Good Records
360
2
IRS Recordkeeping Guidelines
360
1
Records of Property Purchases
360
1
W-2 Forms
361
1
Prior Year Tax Returns
361
1
Records of payments
362
1
Documents You Don't Need to Keep
362
3
Tax Planning
365
24
Tax Planning for Next Year's Tax Return
366
11
What You Can Do
366
1
The Tax Events You Can Control
367
10
Planning for Your Retirement
377
4
Company-Sponsored Retirement Plans
378
1
Traditional IRA
379
1
The Roth IRA
380
1
Making Investment Decisions
381
4
Preparing for Taxes on Gifts and Estates
385
4
Using TurboTax for What-If Scenarios
389
42
Planning for Life Changes
390
17
Tax Effects of Life Events
391
6
Using the Tax Planner
397
3
Using the IRA Planner
400
7
Part VI Appendixes
A Purchasing and Installing Your TurboTax Program
407
8
Purchasing TurboTax for Federal Tax Returns
408
1
Installing the TurboTax Federal Program
408
2
Purchasing TurboTax for State Tax Returns
410
1
Installing Your TurboTax State Program
411
4
B Bonus Tax Worksheets
415
16
Automobile, Buy versus Lease
416
2
Home Office Depreciation Deduction
418
2
Converting Your Traditional IRA to a Roth IRA
420
1
Roth IRA: Long-Term Investment Worksheet
421
3
Non-Cash Charitable Contributions: Valuation Guide
424
7
Index
431