Answers to 4491-W problems

Make sure to get then corrections to the paper Pub 4491W (2011) problems in the Pub 4491X (2011)

Also on the Pub 4012, page 2-20:

In the Lump Sum Social Security section at the bottom add:

Step 8a- On line 7 add taxable soc sec from prior year return.

See the new attachment of the Form 4491W problems with state answers. Thanks to Jon Christopherson for updating this.

See the attachments below for answers to exercises and comprehensive problems in the Publications 4491W. Most of the exercises are relatively short, so I suggest you try to do the problem on TaxWise training or Practice Lab before you look up and check the answer. I also suggest that you follow pages 2 and 3 of the intake sheet to do a personal quality review ... best again if you do this before looking at the answer.

Keep a copy of the Publication 4012 close. I like to have a pdf electronic version of the Pub 4012 on my pc desktop, then use the search function to quickly find reference of inputs and topics (CNTL-F then input a key word to search, i.e. search on "IRA Distribution" or "railroad retirement").

The comprehensive problems in the intermediate course (Graham) and advanced course are long and involved. Here you might want to checkup on yourself as you go along. If you are having problems, ask for help from your site, local, or district coordinator or me. Any of us would like to help you.

Have fun!

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TY 2011 Baylor & Webster update

posted Jan 11, 2012, 1:51 PM by Wayne Culp [ updated Jan 15, 2012, 11:01 AM ]

Updated answers for Baylor and Webster:

Wed Jan 11, 2012 3:33 pm

When you get the 26.02 update (desktop), you'll find that there are two problems in the workbook that will have changes. The same applies to TWO, now that it has been updated.

Baylor and Webster were the returns that used Sales Tax computation when itemizing, and the tax table for IN was changed.

It doesn't change the refund in Baylor, but it does in Webster. New refund for Webster is $1,345.

If you find any other changes, please post them here.

Bobbie Seabolt
TRS FL2

Sun, Jan 15, 2012

The Sales Tax Deduction for the Baylor return has been reduced from the original $891 in the answer sheets to $861. I first saw this in conjunction with the updates to TaxWise that were loaded this past week.

I believe this is the result of changes to the Indiana Sales Tax Tables in TW. Good news is that it does not cause any change in the bottom line of the return.

Pete Freiermuth
TRS, NY-3