Other Income
ProWeb: Schedule E Line 27
IRS Schedule E Part II concerns income or loss the taxpayer received from partnerships and S corporations. Line 27 in Part II asks this yes/no question: "Are you reporting any loss not allowed in a prior year due to the at-risk or basis limitations, ...
ProWeb: How to report Election worker income without a source document
Election workers who make less than the IRS threshold of $600 may not receive a W-2 reporting the wages, however that income is still required to be reported as income on the tax return. To report election worker income when there is no source ...
ProWeb: Form 1099-Q - Payments from Qualified Education Programs
A taxpayer will receive Form 1099-Q if they received a distribution from a qualified tuition program (QTP) under section 529 or a Coverdell education savings account (CESA). It's up to the taxpayer to determine if any of the distribution is taxable. ...
ProWeb: Form 8824 - Like Kind Exchanges
IRS Form 8824 reports like-kind exchanges of real property, deferring gain and calculating basis and taxable gain. A like-kind exchange involves trading business or investment real property for similar property under IRC section 1031, with strict ...