A Sample Tax Return Transcript is a document provided by the IRS that summarizes key information from a taxpayer's filed return. This transcript includes details such as income, deductions, and tax liabilities, making it a valuable resource for various financial and legal purposes. Understanding how to accurately fill out this form is essential for ensuring compliance and obtaining necessary financial information; begin the process by clicking the button below.
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This Product Contains Sensitive Taxpayer Data
Tax Return Transcript
Request Date:
08-09-2018
Response Date:
Tracking Number:
100200235179
Customer File Number:
0987654321
SSN Provided:
XXX-XX-5084
Tax Period Ending: Dec. 31, 2017
The following items reflect the amount as shown on the return (PR), and the amount as adjusted (PC), if applicable. They do not show subsequent activity on the account.
SSN:
SPOUSE SSN:
NAME(S) SHOWN ON RETURN: DRAK
ADDRESS:
123 DA
FILING STATUS:
Single
FORM NUMBER:
1040
CYCLE POSTED:
20181005
RECEIVED DATE:
Jan.15, 2018
REMITTANCE:
$0.00
EXEMPTION NUMBER:
1
DEPENDENT 1
N ME CTRL:
DEPENDENT 2
DEPENDENT 3
N:
DEPENDENT 4
PTIN:
PREPARER EIN:
Income
WAGES, SALARIES, TIPS, ETC:
$13,000.00
TAXABLE INTEREST INCOME: SCH B:
TAX-EXEMPT INTEREST:
ORDINARY DIVIDEND INCOME: SCH B:
QUALIFIED DIVIDENDS:
REFUNDS OF STATE/LOCAL TAXES:
8/9/2018
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ALIMONY RECEIVED:
BUSINESS INCOME OR LOSS (Schedule C):
$2,500.00
BUSINESS INCOME OR LOSS: SCH C PER COMPUTER:
CAPITAL GAIN OR LOSS: (Schedule D):
CAPITAL GAINS OR LOSS: SCH D PER COMPUTER:
OTHER GAINS OR LOSSES (Form 4797):
TOTAL IRA DISTRIBUTIONS:
TAXABLE IRA DISTRIBUTIONS:
TOTAL PENSIONS AND ANNUITIES:
SAMPLE
TAXABLE PENSION/ANNUITY AMOUNT:
RENT/ROYALTY/PARTNERSHIP/ESTATE (Schedule E):
RENT/ROYALTY/PARTNERSHIP/ESTATE (Schedule E) PER COMPUTER:
RENT/ROYALTY INCOME/LOSS PER COMPUTER:
ESTATE/TRUST INCOME/LOSS PER COMPUTER:
PARTNERSHIP/S-CORP INCOME/LOSS PER COMPUTER:
FARM INCOME OR LOSS (Schedule F):
FARM INCOME OR LOSS (Schedule F) PER COMPUTER:
UNEMPLOYMENT COMPENSATION:
TOTAL SOCIAL SECURITY BENEFITS:
TAXABLE SOCIAL SECURITY BENEFITS:
TAXABLE SOCIAL SECURITY BENEFITS PER COM UTER:
OTHER INCOME:
SCHEDULE EIC SE INCOME PER COMPUTER:
$2,323.00
SCHEDULE EIC EARNED INCOME PER COMPUTER:
$15,323.00
SCH EIC DISQUALIFIED INC COMPUTER:
TOTAL INCOME:
$15,500.00
TOTAL INCOME PER COMPUTER:
Adjustments to Income
EDUCATOR EXPENSES:
EDUCATOR EXPENSES PER CO PUTER:
RESERVIST AND OTHER
BUSINESS EXPENSE:
HEALTH
VINGS
CCT
DEDUCTION:
HEALTH S VINGS
DEDUCTION PER CO PTR:
MOVING EXPENSES: F3903:
SELF EMPLOYMENT T X DEDUCTION:
$177.00
SELF EMPLOYMENT T X DEDUCTION PER COMPUTER:
ELF EMPLOYMENT T X DEDUCTION VERIFIED:
KEOGH/ EP CONTRIBUTION DEDUCTION:
ELF-EMP HE LTH INS DEDUCTION:
EARLY WITHDRAWAL OF
AVINGS PENALTY:
ALIMONY PAID
ALIMONY PAID:
IRA DEDUCTION:
IRA DEDUCTION PER COMPUTER:
STUDENT LOAN INTEREST DEDUCTION:
STUDENT LOAN INTEREST DEDUCTION PER COMPUTER:
STUDENT LOAN INTEREST DEDUCTION VERIFIED:
TUITION AND FEES DEDUCTION:
TUITION AND FEES DEDUCTION PER COMPUTER:
DOMESTIC PRODUCTION ACTIVITIES DEDUCTION:
Page 3 of 6
DOMESTIC PRODUCTION ACTIVITIES DEDUCTION PER COMPUTER:
OTHER ADJUSTMENTS:
ARCHER MSA DEDUCTION:
ARCHER MSA DEDUCTION PER COMPUTER:
TOTAL ADJUSTMENTS:
TOTAL ADJUSTMENTS PER COMPUTER:
ADJUSTED GROSS INCOME:
ADJUSTED GROSS INCOME PER COMPUTER:
Tax and Credits
65-OR-OVER:
NO
BLIND:
SPOUSE 65-OR-OVER:
SPOUSE BLIND:
STANDARD DEDUCTION PER COMPUTER:
$4,850.00
ADDITIONAL STANDARD DEDUCTION PER COMPUTER:
TAX TABLE INCOME PER COMPUTER:
$10,473.00
EXEMPTION AMOUNT PER COMPUTER:
$3,100.00
TAXABLE INCOME:
$7,373.00
TAXABLE INCOME PER COMPUTER:
TOTAL POSITIVE INCOME PER COMPUTER:
TENTATIVE TAX:
$749.00
TENTATIVE TAX PER COMPUTER:
FORM 8814 ADDITIONAL TAX AMOUNT:
TAX ON INCOME LESS SOC SEC INCOME PER COM UTER:
FORM 6251 ALTERNATIVE MINIMUM TAX:
FORM 6251 ALTERNATIVE INI UM TAX PER CO UTER:
FOREIGN TAX CREDIT:
FOREIGN TAX CREDIT PER CO PUTER:
FOREIGN INCOME EXCLUSION PER CO PUTER:
FOREIGN INCOME EXCLUSION TAX PER CO PUTER:
EXCESS ADVANCE PREMIUM TAX CREDIT REPAY ENT OUNT:
EXCESS
DV NCE PREMIUM T X CREDIT REP Y ENT VERIFIED A OUNT:
CHILD & DEPENDENT C RE CREDIT:
CHILD & DEPENDENT C RE CREDIT PER COMPUTER:
CREDIT FOR ELDERLY
ND DIS BLED:
ND DIS BLED PER COMPUTER:
EDUCATION CREDIT:
EDUCATION CREDIT PER COMPUTER:
GRO EDUC TION CREDIT PER COMPUTER:
RETIREMENT
AVINGS CNTRB CREDIT:
AVINGS CNTRB CREDIT PER COMPUTER:
PRIM RET
AV CNTRB: F8880 LN6A:
EC RET
AV CNTRB: F8880 LN6B:
TOTAL RETIREMENT
AVINGS CONTRIBUTION: F8880 CMPTR:
RESIDENTIAL ENERGY CREDIT:
RESIDENTIAL ENERGY CREDIT PER COMPUTER:
CHILD TAX CREDIT:
CHILD TAX CREDIT PER COMPUTER:
ADOPTION CREDIT: F8839:
ADOPTION CREDIT PER COMPUTER:
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FORM 8396 MORTGAGE CERTIFICATE CREDIT:
FORM 8396 MORTGAGE CERTIFICATE CREDIT PER COMPUTER:
F3800, F8801 AND OTHER CREDIT AMOUNT:
FORM 3800 GENERAL BUSINESS CREDITS:
FORM 3800 GENERAL BUSINESS CREDITS PER COMPUTER:
PRIOR YR MIN TAX CREDIT: F8801:
PRIOR YR MIN TAX CREDIT: F8801 PER COMPUTER:
F8936
ELECTRIC MOTOR VEHICLE CREDIT AMOUNT:
ELECTRIC MOTOR VEHICLE CREDIT PER COMPUTER:
F8910
ALTERNATIVE MOTOR VEHICLE CREDIT AMOUNT:
ALTERNATIVE MOTOR VEHICLE CREDIT PER COMPUTER:
OTHER CREDITS:
TOTAL CREDITS:
TOTAL CREDITS PER COMPUTER:
INCOME TAX AFTER CREDITS PER COMPUTER:
Other Taxes
SE TAX:
$354.00
SE TAX PER COMPUTER:
SOCIAL SECURITY AND MEDICARE TAX ON UNREPORTED TIPS:
SOCIAL SECURITY AND MEDICARE TAX ON UNRE ORTED TI
ER COM UTER:
TAX ON QUALIFIED PLANS F5329 (PR):
TAX ON QUALIFIED PLANS F5329 PER COM UTER:
IRAF TAX PER COMPUTER:
TP TAX FIGURES (REDUCED BY IRAF) PER COM UTER:
$1,103.00
IMF TOTAL TAX (REDUCED BY IRAF) PER COM UTER:
OTHER TAXES PER COMPUTER:
UNPAID FICA ON REPORTED TIPS:
OTHER TAXES:
RECAPTURE TAX: F8611:
HOUSEHOLD EMPLOYMENT TAXES:
HOUSEHOLD EMPLOYMENT TAXES PER CO PUTER:
HEALTH C RE RESPONSIBILITY PEN LTY:
HEALTH C RE RESPONSIBILITY PEN LTY VERIFIED:
HEALTH COVER GE REC PTURE: F8885:
RECAPTURE T XES:
TOTAL SSESSMENT PER COMPUTER:
TOTAL T X LI BILITY TP FIGURES:
TOTAL T X LI BILITY TP FIGURES PER COMPUTER:
Payments
FEDERAL INCOME TAX WITHHELD:
$1,000.00
HEALTH CARE: INDIVIDUAL RESPONSIBILITY:
HEALTH CARE FULL-YEAR COVERAGE INDICATOR:
0
E TIMATED TAX
PAYMENT :
OTHER PAYMENT CREDIT:
REFUNDABLE EDUCATION CREDIT:
REFUNDABLE EDUCATION CREDIT PER COMPUTER:
REFUNDABLE EDUCATION CREDIT VERIFIED:
EARNED INCOME CREDIT:
EARNED INCOME CREDIT PER COMPUTER:
EARNED INCOME CREDIT NONTAXABLE COMBAT PAY:
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SCHEDULE 8812
NONTAXABLE COMBAT PAY:
EXCESS SOCIAL
SECURITY & RRTA TAX WITHHELD:
TOT SS/MEDICARE WITHHELD:
ADDITIONAL CHILD TAX CREDIT:
ADDITIONAL CHILD TAX CREDIT PER COMPUTER:
ADDITIONAL CHILD TAX CREDIT VERIFIED:
AMOUNT PAID WITH FORM 4868:
FORM 2439 REGULATED INVESTMENT COMPANY CREDIT:
FORM 4136 CREDIT FOR FEDERAL TAX ON FUELS:
FORM 4136 CREDIT FOR FEDERAL TAX ON FUELS PER COMPUTER:
HEALTH COVERAGE TX CR: F8885:
PREMIUM TAX CREDIT AMOUNT:
PREMIUM TAX CREDIT VERIFIED AMOUNT:
PRIMARY NAP FIRST TIME HOME BUYER INSTALLMENT AMT:
SECONDARY NAP
FIRST TIME HOME BUYER INSTALLMENT AMT:
FIRST TIME HOMEBUYER CREDIT REPAYMENT AMOUNT:
FORM 5405 TOTAL HOMEBUYERS CREDIT REPAYMENT PER COMPUTER:
SMALL EMPLOYER HEALTH INSURANCE PER COMPUTER:
SMALL EMPLOYER HEALTH INSURANCE PER COMPUTER (2):
FORM 2439 AND
TOTAL PAYMENTS:
TOTAL PAYMENTS PER COMPUTER:
Refund or Amount Owed
AMOUNT YOU OWE:
$103.00
APPLIED TO NEXT YEAR'S ESTIMATED TAX:
ESTIMATED TAX PENALTY:
TAX ON INCOME LESS STATE REFUND PER CO UTER:
BAL DUE/OVER PYMT USING TP FIG PER CO PUTER:
BAL DUE/OVER PYMT USING CO PUTER FIGURES:
FORM 8888 TOTAL REFUND PER CO PUTER:
Third Party Designee
THIRD P RTY DESIGNEE ID NU BER:
AUTHORIZ TION INDIC TOR:
THIRD RTY DESIGNEE N ME:
Schedule C--Profit or Loss From Business
OCIAL
ECURITY NUMBER:
EMPLOYER
ID NUMBER:
BU INE
NAME:
DE CRIPTION OF BU INE /PROFESSION:
DRAK
NAICS CODE:
000000
ACCT MTHD:
FIR T TIME CHEDULE C FILED:
N
TATUTORY EMPLOYEE IND:
INCOME
GROSS RECEIPTS OR SALES:
$2,700.00
RETURNS AND ALLOWANCES:
NET GROSS RECEIPTS:
COST OF GOODS SOLD:
SCHEDULE C FORM 1099 REQUIRED:
NONE
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SCHEDULE C FORM 1099 FILED:
EXPENSES
CAR AND TRUCK EXPENSES:
DEPRECIATION:
INSURANCE (OTHER THAN HEALTH):
MORTGAGE INTEREST:
LEGAL AND PROFESSIONAL SERVICES:
REPAIRS AND MAINTENANCE:
TRAVEL:
MEALS AND ENTERTAINMENT:
WAGES:
OTHER EXPENSES:
TOTAL EXPENSES:
$200.00
EXP FOR BUSINESS USE OF HOME:
SCH C NET PROFIT OR LOSS PER COMPUTER:
AT RISK CD:
OFFICE EXPENSE AMOUNT:
UTILITIES EXPENSE AMOUNT:
COST OF GOODS SOLD
INVENTORY
AT
BEGINNING OF
YEAR:
END OF YEAR:
Schedule SE--Self-Employment Tax
SSN OF SELF-EMPLOYED TAXPAYER:
NET FARM PROFIT/LOSS: SCH F:
CONSERVATION RESERVE PROGRAM PAY ENTS:
NET NONFARM PROFIT/LOSS:
TOTAL SE INCOME:
SE QUARTERS COVERED:
4
TOTAL SE TAX PER COMPUTER:
$353.12
SE INCOME COMPUTER VERIFIED:
SE INCOME PER COMPUTER:
$2,308.00
TOTAL NET E RNINGS PER CO PUTER:
LONG FORM ONLY
TENTATIVE
CHURCH RNINGS:
TOTAL SOC
SEC & RR W GES:
E
T X
COMPUTER:
$286.19
E MEDIC RE INCOME PER COMPUTER:
E MEDICARE TAX PER COMPUTER:
$66.93
E FARM OPTION METHOD U ED:
E OPTIONAL METHOD INCOME:
Form 8863 - Education Credits (Hope and Lifetime Learning Credits)
PART III - ALLOWABLE EDUCATION CREDITS
GROSS EDUCATION CR PER COMPUTER:
TOTAL EDUCATION CREDIT AMOUNT:
TOTAL EDUCATION CREDIT AMOUNT PER COMPUTER:
The Sample Tax Return Transcript is similar to the IRS Form 1040, which is the standard individual income tax return form used by taxpayers. Both documents provide a comprehensive overview of an individual’s income, deductions, and tax liability for a specific tax year. The Form 1040 is the primary document that taxpayers submit to report their earnings and calculate their tax obligations, while the Sample Tax Return Transcript summarizes this information in a format that is easier to read and understand. It highlights key figures such as total income, adjusted gross income, and taxes owed or refunded, making it a useful reference for taxpayers and financial institutions alike.
Another document comparable to the Sample Tax Return Transcript is the IRS Form W-2, which reports an employee's annual wages and the taxes withheld from their paycheck. While the W-2 focuses specifically on income earned from employment, the Tax Return Transcript encompasses a broader range of income sources, including self-employment and investment income. Both documents are essential for verifying income, especially when applying for loans or financial aid. The W-2 provides detailed information about wages and withholdings, while the Tax Return Transcript consolidates this information into a summary format for easier interpretation.
The IRS Form 1099 is also similar to the Sample Tax Return Transcript. This form is used to report various types of income other than wages, salaries, and tips. Examples include freelance income, interest payments, and dividends. While the 1099 provides specific details about individual income sources, the Tax Return Transcript summarizes all income reported on the tax return, including amounts from multiple 1099 forms. This makes the transcript a more comprehensive document for understanding a taxpayer's overall financial situation.
Form 4506-T, the Request for Transcript of Tax Return, is another relevant document. This form allows taxpayers to request a transcript of their tax return, including the Sample Tax Return Transcript. While the 4506-T is a request form, the transcript itself provides the requested information in a summarized format. Both documents serve the purpose of verifying tax information, but the 4506-T is the means by which a taxpayer can obtain the transcript.
The IRS Form 1040X, which is used to amend a previously filed tax return, is also similar. If a taxpayer needs to correct errors or make changes to their original return, they will file a 1040X. The Sample Tax Return Transcript may reflect these changes if the amended return has been processed. Both documents provide insights into the taxpayer's financial situation, but the 1040X specifically addresses corrections to previously reported information.
Form 8862, the Information to Claim Certain Refundable Credits After Disallowance, is another document that shares similarities with the Sample Tax Return Transcript. This form is used by taxpayers who previously had a claim for certain credits disallowed and wish to claim them again. While the 8862 focuses on specific credits, the Tax Return Transcript provides a broader overview of the taxpayer's financial situation, including any credits claimed in the tax year.
The IRS Form 8888, which is used to allocate a taxpayer's refund to multiple accounts, is also comparable. While the 8888 focuses solely on the distribution of a tax refund, the Sample Tax Return Transcript summarizes the overall tax return, including any refund amounts. Both documents are relevant when discussing refunds, but the transcript provides a more comprehensive view of the taxpayer's financial situation.
Form 8863, the Education Credits (American Opportunity and Lifetime Learning Credits), is another document that relates to the Sample Tax Return Transcript. This form is used to claim education-related tax credits. The transcript may summarize the total credits claimed, including those reported on the 8863. Both documents are important for taxpayers seeking to maximize their education-related tax benefits, but the transcript provides a broader context of the taxpayer’s overall tax situation.
Lastly, the IRS Form 8822, Change of Address, is somewhat related. While this form is specifically for notifying the IRS of a change in address, it may be relevant for taxpayers who are reviewing their tax transcripts after moving. Both documents can play a role in ensuring that taxpayers receive important tax information at the correct address, but the transcript itself provides a summary of financial data rather than address changes.
Filling out the Sample Tax Return Transcript form involves several key steps. This process requires careful attention to detail to ensure accuracy. Follow the steps below to complete the form correctly.
After completing the form, it is essential to submit it to the appropriate tax authority. Keep a copy for your records, and ensure that you follow up if you do not receive a response within the expected timeframe.
The Sample Tax Return Transcript form provides a summary of an individual's tax information as reported to the Internal Revenue Service (IRS). This document is often used in conjunction with other forms and documents during various financial and legal processes. Below is a list of related documents that are commonly utilized alongside the Sample Tax Return Transcript.
These documents collectively support the preparation and filing of tax returns, providing essential information for both taxpayers and the IRS. Understanding the role of each form can help individuals navigate their tax obligations more effectively.
Incorrect Social Security Number (SSN): Providing an incorrect SSN can lead to delays in processing the tax return or even rejection of the return.
Missing Signature: Failing to sign the form can result in the return being considered incomplete, which may lead to penalties or delays.
Incorrect Filing Status: Selecting the wrong filing status can affect the tax calculations and potentially lead to a higher tax liability.
Omitting Dependents: Not listing eligible dependents can result in missed tax credits and deductions, which may increase the overall tax owed.
Inaccurate Income Reporting: Reporting incorrect income amounts can lead to discrepancies that may trigger audits or additional tax liabilities.
Ignoring Deadlines: Submitting the form after the deadline can result in penalties and interest on any taxes owed.
Things to Do When Filling Out the Sample Tax Return Transcript Form:
Things Not to Do When Filling Out the Sample Tax Return Transcript Form: