Budgeting

How to fill out a tax return

How to fill out a tax return

Video: TAX RETURN BASICS / SINGLE FILING STATUS / NO DEPENDENTS / FORM 1040 PERSONAL RETURN / CPA STRENGTH 2024, July

Video: TAX RETURN BASICS / SINGLE FILING STATUS / NO DEPENDENTS / FORM 1040 PERSONAL RETURN / CPA STRENGTH 2024, July
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Sooner or later, we all have to deal with filling out tax returns. The tax return is a normative document, according to which citizens report on their income to the state.

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Instruction manual

1

Determine which category of citizens you belong to and which one should file your income tax return with tax authorities (income tax or tax deductions).

2

To fill out a tax return, use the software to fill out tax documentation. This will allow you to greatly simplify the task.

3

Start filling out the first column of the first sheet: indicate your membership in taxpayers.

4

Select your tax office number and enter it in the appropriate field.

5

On the second sheet of the declaration, enter your personal data using the column "declarant information" of the software. Do not forget to provide information about your place of residence.

6

Select the third sheet of declaration. Here you should fill out the form corresponding to your income. Enter in the declaration all your income you received for the reporting period, usually a year. Please note that salary data are also entered in the tax return, regardless of the fact that you have already paid tax on this type of income.

7

Make the income in the declaration on a monthly basis, in accordance with when the income was received.

8

Make a deduction report. Here you should fill out a tax return, making information about the deductions for the received type of income that you have (deductions per child, deductions related to low income, etc.).

9

Check off all types of standard and social deductions for which you are applying.

10

Fill in the data on the expenses stipulated by you for treatment, insurance, training, pension payments, charity, etc.

eleven

Fill in the required information on property deductions. This column is filled in if you were involved in the acquisition or construction of real estate. In this case, do not forget to indicate in the declaration the amount of expenses associated with the purchase or construction of real estate.

12

Indicate loan repayments if you borrowed money.

thirteen

Fill in the tax payments that you made during the reporting period.

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