Volunteer Tax Assistance Resources

Codes N, Q, X, R, S, and C are out of scope.

• If the amount in this box represents income from a business that is regular and continuous, this is SE income, report it on Schedule C or F, and complete Schedule SE.
• Individuals receive this form instead of Form W-2 because the payer did not consider them employees. If they believe they are an employee and cannot get the payer to correct this form, report the amount from box 7 along with other wages on Form 1040, line 7. You must also complete Form 8919.
• If they are not an employee but the amount in this box is not SE income (for example, it is income from a sporadic activity or a hobby), report it on Form 1040, line 2

Form 1098 may also show Mortgage Insurance or Real Estate Property Taxes paid

May indicate Cancellation of Debt that should be reported as Income

• If the amount in this box represents income from a business that is regular and continuous, this is SE income, report it on Schedule C or F, and complete Schedule SE.
• Individuals receive this form instead of Form W-2 because the payer did not consider them employees. If they believe they are an employee and cannot get the payer to correct this form, report the amount from box 7 along with other wages on Form 1040, line 7. You must also complete Form 8919.
• If they are not an employee but the amount in this box is not SE income (for example, it is income from a sporadic activity or a hobby), report it on Form 1040, line 2

Prior year form may contain information, such as prior contributions, needed to file Form 8606. Get current IRA value from 5498.

Section 1402(k) requirements
(1) the amount is received after termination of the individual's agreement to perform services for the company;
(2) the individual performs no services for the company after the agreement ends and before the close of the taxable year;
(3) the payments are conditioned on the salesman's agreeing not to compete with the company for at least one year following termination of the agreement; and
(4) the amount of the payments depends primarily on: (a) policies sold by, or credited to the account of, the individual during the last year of the agreement, and/or (b) the extent to which the policies remain in force for some period after the agreement ends, and
(5) the amount of the payments do not depend to any extent on length of service or overall earnings from services performed for such company.

Prints with the tax return.

In order to print afterward, print tax return PDF but select only the appropriate pages.

Check box under Rollover or Disability
Additional information is required on the worksheet if a rollover to a Roth.

In addition to the general sales tax deduction, taxpayers can take an additional deduction for sales tax paid for
  ❑ Motor vehicles (including off-road and leased vehicles)
  ❑ Boats or aircraft
  ❑ Home building materials for new home or substantial modification

Enter the additional sales tax on line 7. The tax is generally limited to the general sales tax rate. See Schedule A instructions for more information.