Geogia State University Tax return

Lorelai R. Gilmore, born April 25, 1992, is a married taxpayer who works at the Independence Inn. Lorelai and her
husband Luke would like for you continue to work on their 2023 return! The following facts will help you.
Lorelai has not changed her name yet with the Social Security Administration. Her Social Security number is 933-669999. Luke’s social security number is 888-77-2456. Lorelai earned $40,000 in wages and had $6,439 withheld in federal
income taxes; both items were reported to her on her W-2. She also earned $30 in bank interest from National Iron Bank
(at 6 Bee Brook Rd, Stars Hollow, Connecticut 06794) on her savings account. This amount was reported to her on her
December 2023 bank statement.
Luke was born the same day and year as Lorelai, but in the month of January. He moved in to Lorelai’s house with
Lorelai and Rory, Lorelai’s 16-year-old daughter, at 37 Maple Street, Stars Hollow, Connecticut. Stars Hollow is a great
little town, very close knit, where the citizen’s treat each other like family. Lorelai actually has family living in town. Her
mother Emily and father Richard live in town. In fact, they pay for Rory to attend a prestigious private school, Chilton
Academy. The tuition for Chilton is very high, about half of Rory’s total support for the year. Richard and Emily require
that Lorelai and Rory (of course, Luke is invited too, but not required) attend Friday night dinners at their house in return
for the support they provide for Rory. Rory’s social security number is 933-77-8888. Her birthdate is October 8, 2008.
Lorelai’s best friend Sooki also lives in Stars Hollow. Sooki and Lorelai are so close that when Sooki needed some
financial help, Lorelai insisted she move in until she was back on her feet. Sooki ended up staying with Lorelai and Rory
the full year. Sooki works as the chef at the Independence Inn; she’s been working there about half the year. She works
full time, but makes minimum wage until she completes her 6-month probationary period. Sooki’s social security number
is 882-44-8888.
Lorelai, Rory and Sooki spend a lot of time together, along with Rory’s best friend Lane. The group spends weekends
going to antique markets, farmers’ markets, and yard saling. Rory and Lane both have lots of homework to do, but they
manage to find time for fun too. On one of the group excursions, Lorelai decided to buy an antique harpsichord which she
planned to place in the Inn as a decorative piece. One of the guests tried to play the instrument, but it sounded terrible so
Lorelai had a guy she knew come to tune it. While the guy tuned the instrument, Lorelai sat and visited with him. No one
was more surprised than Lorelai when the tuner reached into the bowels of the instrument and pulled out an obstruction.
This obstruction turned out to be a wad of packing paper which when unwrapped revealed a set of antique ruby earrings.
Lorelai had the earrings appraised and it turns out the FMV of these earrings was $2,500. Rory, being ever practical, told
her mom she should definitely try to track down the former owners of the harpsichord to find the owner of the earrings.
Lorelai decided not to. Instead she kept the earrings and wore them for special occasions. Turns out, this package was the
cause of the terrible sound from the instrument so it didn’t even need tuning!!!
Lorelai made some smart stock purchases several years ago. In 2023 she received dividends from some of those
investments ($1,002 from Luckin Coffee and $2,000 from Farmer Bros. Coffee). After receiving her dividends from
Luckin Coffee, she decided to sell this stock. She bought the stock for $2,000 in 2020 and sold it in 2023. She had selling
expenses on the sale of $25, and she sold it for $3,265.
Lorelai and Sooki were headed down to Luke’s Diner one day for a cup of coffee (Luke has the extra big mugs Lorelai
loves) and Lorelai tripped on a crack in the sidewalk. She fell and broke some bones in her hand. It was very difficult for
her to work with a full cast on her hand (only the tips of her fingers showed!) so she had to take a few weeks off work.
Fortunately, Lorelai had purchased a disability policy from AFLAC (after seeing a commercial with Nick Saban). This
policy was not provided by Lorelai’s employer, meaning she purchased the policy with after tax dollars. She received
$3,500 from the AFLAC policy. In addition to the AFLAC policy, Lorelai received funds ($5000) from the policy
provided by her employer. This policy is furnished to Lorelai as a tax-free qualifying fringe benefit and was not reported
on her W-2. The disability benefits she received got her through the time she was off work without having to worry about
money. Whew!
Lorelai had to purchase uniforms for Rory to wear while attending Chilton. She put these on her credit card. She also
racked up quite an online shopping bill while she was at home with her broken hand. Turns out that even if you can’t
really work with a cast that covers all but the tips of your fingers, you can still scroll and click. By the end of the year,
Lorelai’s credit card company had worked with her to discharge some of her very substantial credit card debt. Of Lorelai’s
$30,000 credit card debt, the company forgave $15,000 and reported this amount to her on a 1099C. Lorelai cashed in a
certificate of deposit she began 3 years ago to pay off the rest. The CD was originally for a 5-year term, so the bank
charged her an early withdrawal penalty of $50. She decided it was worth it to get rid of more of her debt.
Lorelai also was called for jury duty in 2023. She ended up serving on a jury for a week. Her employer has a policy of
paying their employees regular pay while they serve on a jury, so long as any funds received from the county for jury pay
are turned over the Inn. Lorelai received $425 from the county in return for her jury duty service. She turned the same
amount over to her employer, and received her regular weekly pay from them for the week she served.
Luke owns his own business (the diner) and his net income for the year was $65,000. He made estimated tax payments
totaling $10,000, in four equal installments all paid by the quarterly deadlines. (For purposes of this return, you can ignore
the Schedule C. Simply use the net income number given, the estimated tax payments given and put the Schedule C
income of $65,000 on the correct line of the Schedule 1 and/or Form 1040.) Luke’s Schedule C income generates selfemployment taxes due of $9,184. Not all bad news though, he also has deductible self-employment taxes of $4,592. (For
purposes of this return, you can also ignore the Schedule SE since I have completed the calculations for you.) Also, since
Luke is self-employed, he contributes to a self-employed retirement fund (a SEP) and this year his contribution equaled
$5,000. Lorelai’s employer does not provide a retirement plan, but Luke did get her to invest in her future by contributing
to a traditional IRA. Lorelai made a total of $4,000 in contributions in 2023.
Lorelai has a mortgage on her house. For the entire year, her house payments totaled $30,000. Included in the $30,000
total, she paid $19,538 in mortgage interest, $135 in mortgage insurance, $2,028 in home insurance, real estate taxes of
$6,962 and principal payments of $1,337. Houses are expensive!!
Lorelai and Luke also firmly believe in contributing to charity since they have both been so blessed with good health,
good friends and stable, if not luxurious, financial means. Lorelai and Rory donated some of their gently used clothing
and household goods to the local Goodwill and Salvation Army locations. In total, the fair market value of the items they
donated equaled $3,000; the replacement value was $5,000 and the thrift store value was $1,500. (You are not required to
complete the extra IRS required forms for their donations. Just use the Schedule A to show the deductible amount and
include a note in your workpapers telling which forms you would have to use to report these donations.) These donations
were made in a series of trips over the course of the year. Altogether, Lorelai drove 32 miles roundtrip to the two
organizations to make the donations. In addition to Goodwill and Salvation Army, Lorelai made contributions to the local
animal shelter. The shelter (the Connecticut Humane Society) is listed as a charity option on Amazon Smile, so a portion
of the total Lorelai spent on items from the Amazon Smile website automatically went to the shelter. The shelter also has
a wish list posted online. Lorelai ordered several of the items on their list from Amazon, who then delivered her order
directly to the shelter. The items she ordered for delivery to the shelter totaled $500 and the proceeds from the Amazon
Smile site totaled $100. Luke donated some of the food from the diner to the Morning Glory Breakfast Program, part of
the Catholic Charities organization. In all he donated $1,000 (FMV) of food past the sale by date from his diner inventory.
All of the donation was considered apparently wholesome food. Luke does not have a basis in any of the donated food
(hint: see IRC Sec. 170(e)(3) if you need help.)
Lorelai would like $3 to go to the Presidential Election Campaign Fund, although she has no idea what that is. Luke
would rather not contribute to politics. They would like any refund they may receive to be deposited into Lorelai’s bank
account since her account generates interest. Lorelai’s account number is 321456987. She cannot remember the routing
number for her bank. The couple would like for you, their professional tax preparer and CPA, to deal with the IRS for
them if needed with regards to their 2023 tax return.
For those of you unfamiliar with the Gilmore Girls, it is a TV show from the early 2000’s. If you need additional
information about people mentioned in this return, you can check out this page:
https://en.wikipedia.org/wiki/Gilmore_Girls You should only use this page for character details, NOT tax information.
Please prepare Lorelai and Luke’s 2023 Form 1040 and any required schedules. (Schedules B, C and D are not required.)
The assignment should be stapled and assembled in the correct IRS order, with the attached cover sheet on the front. If
you use the assignment description (this sheet) to make notes to aid in preparation of your return, please include it at the
back of your return.
I encourage you to work in groups; however, each student is responsible for turning in their own return. Each student is
also responsible for all knowledge required to complete the return. Anything on a tax return is fair game for exams.
Please include the names of everyone you worked with to complete the return. This assignment is due on 3/26 at 2:00pm.
All tax return assignments are to be turned in on paper and tax forms must be handwritten. Any electronic (Word or
Excel) file used to help you prepare the return should be turned in on paper with the return and electronically through
Canvas.
I would highly recommend using the Form 1040 instructions to help with the forms if you have questions about what goes
on what line. Your VITA resource book may also be helpful.
You can find the 2023 Form 1040 and its instructions at IRS.gov. You will also need Schedule 1. In addition, the
individual income tax formula is in your book in Chapter 4. It might be useful.
Tax Return 3
ACT 4494
SP 2024
Name: ____________________________________________________________________________
The AGI on this return is: $ ___________________________________________________________
I worked on this return with:
__________________________________________________________________________________________________
__________________________________________________________________________________________________
__________________________________________________________________________________________________
__________________________________________________________________________________________________
__________________________________________________________________________________________________
__________________________________________________________________________________________________
____________________________________________________________________________________________
I worked for approximately _________________________hrs/min on this return.
Form
1040 U.S. Individual Income Tax Return 2023
Department of the Treasury—Internal Revenue Service
For the year Jan. 1–Dec. 31, 2023, or other tax year beginning
OMB No. 1545-0074
IRS Use Only—Do not write or staple in this space.
, 2023, ending
, 20
See separate instructions.
Your first name and middle initial
Last name
Your social security number
If joint return, spouse’s first name and middle initial
Last name
Spouse’s social security number
Home address (number and street). If you have a P.O. box, see instructions.
Apt. no.
City, town, or post office. If you have a foreign address, also complete spaces below.
Foreign country name
Presidential Election Campaign
Check here if you, or your
spouse if filing jointly, want $3
ZIP code
to go to this fund. Checking a
box below will not change
Foreign postal code your tax or refund.
State
Foreign province/state/county
You
Filing Status
Single
Married filing jointly (even if only one had income)
Check only
one box.
Digital
Assets
Standard
Deduction
Married filing separately (MFS)
Qualifying surviving spouse (QSS)
If you checked the MFS box, enter the name of your spouse. If you checked the HOH or QSS box, enter the child’s name if the
qualifying person is a child but not your dependent:
At any time during 2023, did you: (a) receive (as a reward, award, or payment for property or services); or (b) sell,
exchange, or otherwise dispose of a digital asset (or a financial interest in a digital asset)? (See instructions.)
Were born before January 2, 1959
(1) First name
Spouse:
Are blind
Dependents (see instructions):
Income
(2) Social security
number
Last name
Was born before January 2, 1959
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Child tax credit
Credit for other dependents
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1a
1b
1c
d
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Medicaid waiver payments not reported on Form(s) W-2 (see instructions) .
Taxable dependent care benefits from Form 2441, line 26
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Employer-provided adoption benefits from Form 8839, line 29
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1d
1e
1f
If you did not
get a Form
W-2, see
instructions.
g
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Wages from Form 8919, line 6 . . . . . . .
Other earned income (see instructions) . . . .
Nontaxable combat pay election (see instructions) .
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1i
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1g
1h
Add lines 1a through 1h
Tax-exempt interest . .
Qualified dividends . .
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Attach Sch. B
if required.
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2a
3a
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b Taxable interest
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b Ordinary dividends .
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1z
2b
3b
4a
5a
6a
IRA distributions . . .
Pensions and annuities .
Social security benefits .
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b Taxable amount .
b Taxable amount .
b Taxable amount .
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4b
5b
6b
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8
If you elect to use the lump-sum election method, check here (see instructions)
Capital gain or (loss). Attach Schedule D if required. If not required, check here
Additional income from Schedule 1, line 10 . . . . . . . . . . .
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10
11
Add lines 1z, 2b, 3b, 4b, 5b, 6b, 7, and 8. This is your total income .
Adjustments to income from Schedule 1, line 26
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Subtract line 10 from line 9. This is your adjusted gross income
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10
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14
15
Standard deduction or itemized deductions (from Schedule A)
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Qualified business income deduction from Form 8995 or Form 8995-A . . . .
Add lines 12 and 13 . . . . . . . . . . . . . . . . . . .
Subtract line 14 from line 11. If zero or less, enter -0-. This is your taxable income
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12
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• Single or
Married filing
separately,
$13,850
• Married filing
jointly or
Qualifying
surviving spouse,
$27,700
• Head of
household,
$20,800
• If you checked
any box under
Standard
Deduction,
see instructions.
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2a
3a
4a
5a
6a
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For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions.
Is blind
(3) Relationship
to you
Total amount from Form(s) W-2, box 1 (see instructions) .
Household employee wages not reported on Form(s) W-2 .
Tip income not reported on line 1a (see instructions) . .
Standard
Deduction for—
No
(4) Check the box if qualifies for (see instructions):
1a
b
c
Attach Form(s)
W-2 here. Also
attach Forms
W-2G and
1099-R if tax
was withheld.
Yes
Someone can claim:
You as a dependent
Your spouse as a dependent
Spouse itemizes on a separate return or you were a dual-status alien
Age/Blindness You:
If more
than four
dependents,
see instructions
and check
here . .
Spouse
Head of household (HOH)
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Cat. No. 11320B
15
Form 1040 (2023)
Page 2
Form 1040 (2023)
Tax and
Credits
Payments
16
17
Tax (see instructions). Check if any from Form(s): 1
8814
Amount from Schedule 2, line 3
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18
19
20
Add lines 16 and 17 . . . . . . . . . . . . . . .
Child tax credit or credit for other dependents from Schedule 8812 .
Amount from Schedule 3, line 8
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18
19
20
21
22
23
24
Add lines 19 and 20 . . . . . . . . . . . . . . .
Subtract line 21 from line 18. If zero or less, enter -0- . . . . .
Other taxes, including self-employment tax, from Schedule 2, line 21
Add lines 22 and 23. This is your total tax . . . . . . . .
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21
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25
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Federal income tax withheld from:
Form(s) W-2 . . . . . . .
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25a
Form(s) 1099 . . . . . .
Other forms (see instructions) .
Add lines 25a through 25c . .
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25b
25c
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26
27
28
2023 estimated tax payments and amount applied from 2022 return .
Earned income credit (EIC) . . . . . . . . . . . . .
Additional child tax credit from Schedule 8812
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25d
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26
29
30
31
American opportunity credit from Form 8863, line 8 .
Reserved for future use . . . . . . . . .
Amount from Schedule 3, line 15 . . . . . .
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32
33
Add lines 27, 28, 29, and 31. These are your total other payments and refundable credits
Add lines 25d, 26, and 32. These are your total payments
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34
If line 33 is more than line 24, subtract line 24 from line 33. This is the amount you overpaid
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33
34
b
c
d
If you have a
qualifying child,
attach Sch. EIC.
Refund
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4972 3
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27
28
29
30
31
35a
Direct deposit?
b
See instructions.
d
36
Amount of line 34 you want refunded to you. If Form 8888 is attached, check here .
Routing number
c Type:
Checking
Account number
Amount of line 34 you want applied to your 2024 estimated tax . . .
36
Amount
You Owe
37
Subtract line 33 from line 24. This is the amount you owe.
For details on how to pay, go to www.irs.gov/Payments or see instructions .
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38
Estimated tax penalty (see instructions)
38
Third Party
Designee
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Joint return?
See instructions.
Keep a copy for
your records.
Paid
Preparer
Use Only
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Do you want to allow another person to discuss this return with the IRS? See
instructions
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Designee’s
name
Sign
Here
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24
Phone
no.
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Savings
35a
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37
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Yes. Complete below.
No
Personal identification
number (PIN)
Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and
belief, they are true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Your signature
Date
Your occupation
If the IRS sent you an Identity
Protection PIN, enter it here
(see inst.)
Spouse’s signature. If a joint return, both must sign.
Date
Spouse’s occupation
If the IRS sent your spouse an
Identity Protection PIN, enter it here
(see inst.)
Phone no.
Email address
Preparer’s name
Preparer’s signature
Date
PTIN
Check if:
Self-employed
Firm’s name
Phone no.
Firm’s address
Firm’s EIN
Go to www.irs.gov/Form1040 for instructions and the latest information.
Form 1040 (2023)
SCHEDULE 1
(Form 1040)
Department of the Treasury
Internal Revenue Service
2023
Attach to Form 1040, 1040-SR, or 1040-NR.
Go to www.irs.gov/Form1040 for instructions and the latest information.
Attachment
Sequence No. 01
Your social security number
Name(s) shown on Form 1040, 1040-SR, or 1040-NR
Part I
OMB No. 1545-0074
Additional Income and Adjustments to Income
Additional Income
1
2a
b
3
4
5
6
7
8
a
b
c
d
e
f
g
h
i
j
k
l
Taxable refunds, credits, or offsets of state and local income taxes . . . . . . . . .
1
Alimony received . . . . . . . . . . . . . . . . . . . . . . . . . . .
2a
Date of original divorce or separation agreement (see instructions):
Business income or (loss). Attach Schedule C . . . . . . . . . . . . . . . . .
3
Other gains or (losses). Attach Form 4797 . . . . . . . . . . . . . . . . . .
4
Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E .
5
Farm income or (loss). Attach Schedule F . . . . . . . . . . . . . . . . . . .
6
Unemployment compensation . . . . . . . . . . . . . . . . . . . . . . .
7
Other income:
)
Net operating loss . . . . . . . . . . . . . . . . . . .
8a (
Gambling . . . . . . . . . . . . . . . . . . . . . .
8b
Cancellation of debt . . . . . . . . . . . . . . . . . .
8c
)
Foreign earned income exclusion from Form 2555 . . . . . . .
8d (
Income from Form 8853 . . . . . . . . . . . . . . . . .
8e
Income from Form 8889 . . . . . . . . . . . . . . . . .
8f
Alaska Permanent Fund dividends . . . . . . . . . . . . .
8g
Jury duty pay . . . . . . . . . . . . . . . . . . . . .
8h
Prizes and awards . . . . . . . . . . . . . . . . . . .
8i
Activity not engaged in for profit income . . . . . . . . . . .
8j
Stock options . . . . . . . . . . . . . . . . . . . . .
8k
Income from the rental of personal property if you engaged in the rental
for profit but were not in the business of renting such property . . .
8l
m Olympic and Paralympic medals and USOC prize money (see
instructions) . . . . . . . . . . . . . . . . . . . . .
8m
n Section 951(a) inclusion (see instructions) . . . . . . . . . .
8n
o Section 951A(a) inclusion (see instructions) . . . . . . . . . .
8o
p Section 461(l) excess business loss adjustment . . . . . . . .
8p
q Taxable distributions from an ABLE account (see instructions) . . .
8q
r Scholarship and fellowship grants not reported on Form W-2 . . .
8r
s Nontaxable amount of Medicaid waiver payments included on Form
)
1040, line 1a or 1d . . . . . . . . . . . . . . . . . . .
8s (
t Pension or annuity from a nonqualifed deferred compensation plan or
a nongovernmental section 457 plan . . . . . . . . . . . .
8t
u Wages earned while incarcerated . . . . . . . . . . . . .
8u
z Other income. List type and amount:
8z
9 Total other income. Add lines 8a through 8z . . . . . . . . . . . . . . . . . .
9
10 Combine lines 1 through 7 and 9. This is your additional income. Enter here and on Form
1040, 1040-SR, or 1040-NR, line 8 . . . . . . . . . . . . . . . . . . . . .
10
For Paperwork Reduction Act Notice, see your tax return instructions.
Cat. No. 71479F
Schedule 1 (Form 1040) 2023
Page 2
Schedule 1 (Form 1040) 2023
Part II Adjustments to Income
11
12
13
14
15
16
17
18
19a
b
c
20
21
22
23
24
a
b
c
d
e
f
g
h
i
j
k
z
25
26
Educator expenses . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
Certain business expenses of reservists, performing artists, and fee-basis government
officials. Attach Form 2106 . . . . . . . . . . . . . . . . . . . . . . . .
12
Health savings account deduction. Attach Form 8889 . . . . . . . . . . . . . .
13
Moving expenses for members of the Armed Forces. Attach Form 3903 . . . . . . .
14
Deductible part of self-employment tax. Attach Schedule SE . . . . . . . . . . .
15
Self-employed SEP, SIMPLE, and qualified plans . . . . . . . . . . . . . . . .
16
Self-employed health insurance deduction . . . . . . . . . . . . . . . . . .
17
Penalty on early withdrawal of savings . . . . . . . . . . . . . . . . . . . .
18
Alimony paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19a
Recipient’s SSN . . . . . . . . . . . . . . . . . . . . . .
Date of original divorce or separation agreement (see instructions):
IRA deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20
Student loan interest deduction . . . . . . . . . . . . . . . . . . . . . .
21
22
Reserved for future use . . . . . . . . . . . . . . . . . . . . . . . . .
Archer MSA deduction . . . . . . . . . . . . . . . . . . . . . . . . .
23
Other adjustments:
Jury duty pay (see instructions) . . . . . . . . . . . . . .
24a
Deductible expenses related to income reported on line 8l from the
rental of personal property engaged in for profit . . . . . . . .
24b
Nontaxable amount of the value of Olympic and Paralympic medals
and USOC prize money reported on line 8m . . . . . . . . . .
24c
Reforestation amortization and expenses . . . . . . . . . . .
24d
Repayment of supplemental unemployment benefits under the Trade
Act of 1974 . . . . . . . . . . . . . . . . . . . . . .
24e
Contributions to section 501(c)(18)(D) pension plans . . . . . . .
24f
Contributions by certain chaplains to section 403(b) plans . . . .
24g
Attorney fees and court costs for actions involving certain unlawful
discrimination claims (see instructions) . . . . . . . . . . . .
24h
Attorney fees and court costs you paid in connection with an award
from the IRS for information you provided that helped the IRS detect
tax law violations . . . . . . . . . . . . . . . . . . .
24i
Housing deduction from Form 2555 . . . . . . . . . . . . .
24j
Excess deductions of section 67(e) expenses from Schedule K-1 (Form
1041) . . . . . . . . . . . . . . . . . . . . . . . .
24k
Other adjustments. List type and amount:
24z
Total other adjustments. Add lines 24a through 24z . . . . . . . . . . . . . . .
25
Add lines 11 through 23 and 25. These are your adjustments to income. Enter here and on
Form 1040, 1040-SR, or 1040-NR, line 10 . . . . . . . . . . . . . . . . . .
26
Schedule 1 (Form 1040) 2023
SCHEDULE 2
(Form 1040)
Department of the Treasury
Internal Revenue Service
OMB No. 1545-0074
Additional Taxes
Attachment
Sequence No. 02
Your social security number
Name(s) shown on Form 1040, 1040-SR, or 1040-NR
Part I
2023
Attach to Form 1040, 1040-SR, or 1040-NR.
Go to www.irs.gov/Form1040 for instructions and the latest information.
Tax
1
Alternative minimum tax. Attach Form 6251 . . . . . . . . . . . . . . . .
1
2
Excess advance premium tax credit repayment. Attach Form 8962 . . . . . . .
2
3
Add lines 1 and 2. Enter here and on Form 1040, 1040-SR, or 1040-NR, line 17 . .
3
Part II Other Taxes
4
Self-employment tax. Attach Schedule SE . . . . . . . . . . . . . . . . .
5
Social security and Medicare tax on unreported tip income.
Attach Form 4137 . . . . . . . . . . . . . . . . . .
5
Uncollected social security and Medicare tax on wages. Attach
Form 8919 . . . . . . . . . . . . . . . . . . . . .
6
6
7
Total additional social security and Medicare tax. Add lines 5 and 6
8
Additional tax on IRAs or other tax-favored accounts. Attach Form 5329 if required.
. . . . . .
4
7
If not required, check here . . . . . . . . . . . . . . . . . . . . .
8
9
Household employment taxes. Attach Schedule H
. . . . . . . . . . . . .
9
10
Repayment of first-time homebuyer credit. Attach Form 5405 if required . . . . .
10
11
Additional Medicare Tax. Attach Form 8959 . . . . . . . . . . . . . . . .
11
12
Net investment income tax. Attach Form 8960 . . . . . . . . . . . . . . .
12
13
Uncollected social security and Medicare or RRTA tax on tips or group-term life
insurance from Form W-2, box 12 . . . . . . . . . . . . . . . . . . . .
13
Interest on tax due on installment income from the sale of certain residential lots
and timeshares . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14
Interest on the deferred tax on gain from certain installment sales with a sales price
over $150,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15
Recapture of low-income housing credit. Attach Form 8611 . . . . . . . . . .
16
14
15
16
(continued on page 2)
For Paperwork Reduction Act Notice, see your tax return instructions.
Cat. No. 71478U
Schedule 2 (Form 1040) 2023
Page 2
Schedule 2 (Form 1040) 2023
Part II Other Taxes (continued)
17
Other additional taxes:
a Recapture of other credits. List type, form number, and amount:
17a
b Recapture of federal mortgage subsidy, if you sold your home
see instructions . . . . . . . . . . . . . . . . . . . 17b
c Additional tax on HSA distributions. Attach Form 8889 . . . .
17c
d Additional tax on an HSA because you didn’t remain an eligible
individual. Attach Form 8889 . . . . . . . . . . . . . . 17d
e Additional tax on Archer MSA distributions. Attach Form 8853 .
17e
f Additional tax on Medicare Advantage MSA distributions. Attach
17f
Form 8853 . . . . . . . . . . . . . . . . . . . . .
g Recapture of a charitable contribution deduction related to a
fractional interest in tangible personal property . . . . . . . 17g
h Income you received from a nonqualified deferred compensation
plan that fails to meet the requirements of section 409A . . . 17h
i Compensation you received from a nonqualified deferred
compensation plan described in section 457A . . . . . . .
17i
j
Section 72(m)(5) excess benefits tax . . . . . . . . . . .
k Golden parachute payments
l
17j
. . . . . . . . . . . . . .
17k
Tax on accumulation distribution of trusts . . . . . . . . .
17l
m Excise tax on insider stock compensation from an expatriated
corporation . . . . . . . . . . . . . . . . . . . . . 17m
n Look-back interest under section 167(g) or 460(b) from Form
8697 or 8866 . . . . . . . . . . . . . . . . . . . . 17n
o Tax on non-effectively connected income for any part of the
year you were a nonresident alien from Form 1040-NR . . . . 17o
p Any interest from Form 8621, line 16f, relating to distributions
from, and dispositions of, stock of a section 1291 fund . . . . 17p
q Any interest from Form 8621, line 24 . . . . . . . . . . .
17q
z Any other taxes. List type and amount:
17z
18
Total additional taxes. Add lines 17a through 17z . . . . . . . . . . . . . .
18
19
Reserved for future use
19
20
21
Section 965 net tax liability installment from Form 965-A . . .
20
Add lines 4, 7 through 16, and 18. These are your total other taxes. Enter here and
on Form 1040 or 1040-SR, line 23, or Form 1040-NR, line 23b . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . .
21
Schedule 2 (Form 1040) 2023
SCHEDULE 3
Department of the Treasury
Internal Revenue Service
2023
Attach to Form 1040, 1040-SR, or 1040-NR.
Go to www.irs.gov/Form1040 for instructions and the latest information.
Attachment
Sequence No. 03
Your social security number
Name(s) shown on Form 1040, 1040-SR, or 1040-NR
Part I
OMB No. 1545-0074
Additional Credits and Payments
(Form 1040)
Nonrefundable Credits
1
Foreign tax credit. Attach Form 1116 if required
. . . . . . . . . . . . . .
1
2
Credit for child and dependent care expenses from Form 2441, line 11. Attach
Form 2441 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
3
Education credits from Form 8863, line 19 . . . . . . . . . . . . . . . . .
3
4
Retirement savings contributions credit. Attach Form 8880 . . . . . . . . . .
4
5a Residential clean energy credit from Form 5695, line 15
. . . . . . . . . . .
b Energy efficient home improvement credit from Form 5695, line 32
6
5a
. . . . . .
5b
Total other nonrefundable credits. Add lines 6a through 6z . . . . . . . . . .
Add lines 1 through 4, 5a, 5b, and 7. Enter here and on Form 1040, 1040-SR, or
1040-NR, line 20 . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
Other nonrefundable credits:
a General business credit. Attach Form 3800
. . . . . . . .
b Credit for prior year minimum tax. Attach Form 8801
6a
. . . .
6b
c Adoption credit. Attach Form 8839 . . . . . . . . . . . .
6c
d Credit for the elderly or disabled. Attach Schedule R . . . . .
6d
e Reserved for future use
. . . . . . . . . . . . . . . .
6e
f Clean vehicle credit. Attach Form 8936 . . . . . . . . . .
6f
g Mortgage interest credit. Attach Form 8396 . . . . . . . .
6g
h District of Columbia first-time homebuyer credit. Attach Form 8859
6h
i
Qualified electric vehicle credit. Attach Form 8834
. . . . .
6i
j
Alternative fuel vehicle refueling property credit. Attach Form 8911
6j
k Credit to holders of tax credit bonds. Attach Form 8912 . . .
6k
l
. . . . . .
6l
m Credit for previously owned clean vehicles. Attach Form 8936 .
6m
Amount on Form 8978, line 14. See instructions
z Other nonrefundable credits. List type and amount:
6z
7
8
8
(continued on page 2)
For Paperwork Reduction Act Notice, see your tax return instructions.
Cat. No. 71480G
Schedule 3 (Form 1040) 2023
Page 2
Schedule 3 (Form 1040) 2023
Part II Other Payments and Refundable Credits
9
Net premium tax credit. Attach Form 8962 . . . . . . . . . . . . . . . . .
9
10
Amount paid with request for extension to file (see instructions) . . . . . . . .
10
11
Excess social security and tier 1 RRTA tax withheld . . . . . . . . . . . . .
11
12
Credit for federal tax on fuels. Attach Form 4136 . . . . . . . . . . . . . .
12
13
Other payments or refundable credits:
a Form 2439 . . . . . . . . . . . . . . . . . . . . . 13a
b Credit for repayment of amounts included in income from earlier
years . . . . . . . . . . . . . . . . . . . . . . . . 13b
c Elective payment election amount from Form 3800, Part III, line
6, column (i) . . . . . . . . . . . . . . . . . . . . . 13c
d Deferred amount of net 965 tax liability (see instructions) . . .
13d
z Other payments or refundable credits. List type and amount:
13z
14
15
Total other payments or refundable credits. Add lines 13a through 13z . . . . .
Add lines 9 through 12 and 14. Enter here and on Form 1040, 1040-SR, or 1040-NR,
line 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14
15
Schedule 3 (Form 1040) 2023