Business Tax Discussion

Business Tax Discussion

  

Identify where the following items show up on the first two pages of the 2017 Form 1040. Why is this significant?

  • Gross income (realized income from whatever source derived minus excluded or deferred income)
  • For AGI deductions
  • Schedule C Business Income and Expense
  • Schedule E Rental Income and Expense
  • Schedule D Gains and Losses
  • Alimony Income and Alimony Expense
  • Standard or Itemized Deductions
  • Exemptions
  • Tax

In addition, list one item of gross income that is excluded from income. Explain why it should be excluded.

Do you need high quality Custom Essay Writing Services?

Order now