Full Return Walkthrough w/Written Ledger
Answer the questions based off of what you learned via the training video
Date
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/
Month
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Day
Year
Date
Name
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First Name
Last Name
Email
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example@example.com
Phone Number
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Please enter a valid phone number.
Format: (000) 000-0000.
When starting a new tax return in TaxSlayer Pro, what is the FIRST step after entering the taxpayer’s basic information?
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Go straight to Credits
Enter dependents
Complete the Income Menu
Non-profit organizations
Where do you link a 1099-NEC form for a taxpayer who has a passive income business?
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W-2 Menu
Schedule F
Schedule E
Schedule C
Where do you enter business expenses such as supplies, advertising, and utilities?
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Itemized Deductions Menu
Adjustments Menu
General Expenses
State Adjustments
If a taxpayer uses their personal vehicle for business, where should mileage be entered in TaxSlayer Pro?
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Under Itemized Deductions → Auto Expenses
Credits Menu
Schedule C → Car and Truck Expenses
Worksheet for EIC
What happens if a taxpayer’s Schedule C shows a loss (negative profit)?
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TaxSlayer Pro refuses to e-file the return
The loss must be removed
The loss can be filed if expenses are legitimate
The return must be mailed
A client traveled out of state for a 3-day tax seminar. They stayed 7 days total to also attend family events. Which travel expenses are deductible?
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All 7 days of travel and lodging
Only travel to and from the location
Only the portion directly tied to the business purpose (seminar days); personal days are NOT deductible
None, because the trip included personal activities
A taxpayer purchased clothing for their business, including black pants, shoes, and a plain shirt. They insist these items are “required for work.” Under IRS rules, which is correct?
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Deduct the full cost because the taxpayer states it’s required
Deduct only the shirt
Deduct all items if receipts are provided
None of these items are deductible because they are adaptable to everyday wear
A taxpayer claims they are “self-employed” but has zero expenses and no 1099 forms. They verbally state they earned $14,500 from doing hair at home. How should this be entered?
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Do not file income with no documentation
Add as Other Income on Form 1040
Enter as Schedule C income
Add as Barter Income
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