TaxSlayer - Live as of 1/24/2022!
Basic Scenarios
Special Circumstances Guides
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Fellowship income not reported on an income tax document (usually 1042-S). Only documentation may be fellowship award letter, One-Stop student account statement or My Pay, or other documents.
This guide is not for wage income - only scholarships / fellowships.
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Investment transactions including bank interest, stock dividends, stock sales. Remember that cryptocurrency is out of scope!
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Contributions to a qualified charitable organization are deductible.
Lookup to see if an organization qualifies: https://apps.irs.gov/app/eos/
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This guide is about wages and treaty exemptions. For scholarships and fellowships see the other guide.
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Not common, but we do have 2-5 students per year with this situation.
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Not common situation - probably 2-5 clients per year!
Spouses are NEVER dependents.
Clients from Canada, Mexico, India, and S. Korea who have a child that was born in the U.S. and has a SSN are usually who qualify. There can be other qualifying people from Canada or Mexico, so refer carefully to guide.
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Maybe once or twice a year we get someone with a 1099-R form for whom this applies. Usually they interned at a company that automatically signed them up for their 401(k) plan. When they end their internship the 401(k) gets cashed out, and they get this form.