src/fed2019/README.md

   1 # ustaxlib/fed2019
   2
   3 Forms for US tax year 2019.
   4
   5 # Supported Scenarios
   6
   7 This supports the following filing statues:
   8
   9 - Single
  10 - Married Filing Joint
  11 - Married Filing Separate
  12
  13 # Supported Forms
  14
  15 The following forms are at least partially supported:
  16
  17 - **Form 1040:** Individual income tax return
  18 - **Schedule 1:** Additional income and adjustments
  19 - **Schedule 2:** Additional taxes
  20 - **Schedule 3:** Additional credits and payments
  21 - **Schedule B:** _This form is not directly modeled, and instead the computations are done on
  22     1040._
  23 - **Schedule A:** Itemized deductions
  24 - **Schedule D:** Capital gains and losses
  25 - **Form 1098:** Mortgage interest deduction
  26 - **Form 1099-B:** Proceeds from broker transactions
  27 - **Form 1099-DIV:** Dividend income
  28 - **Form 1099-INT:** Interest income
  29 - **Form 1099-R:** Retirement account distributions
  30 - **Form 1116:** Foreign tax credit
  31 - **Form 6251:** Alternative Minimum Tax _without Form 1116 and Schedule D recalculation_
  32 - **Form 8606:** Nondeductible IRAs
  33 - **Form 8949:** Sales and dispositions of capital assets
  34 - **Form 8959:** Additional medicare tax
  35 - **Form 8960:** Net investment income tax
  36 - **Form 8995:** Qualified business income deduction _for REIT dividends only_
  37 - **W2:** Wages
  38
  39 However several credits and situations are not supported. Check the code file for each form for details.
  40
  41 # Warning
  42
  43 The U.S. tax code is incredibly complicated. This software is meant to help understand how the tax
  44 system works, to verify output from other software (assuming that __this__ software is correct), and
  45 to model/project various tax situations.