Schedule Co Individual - Optional Computation Of Tax - 2008
ADVERTISEMENT
1
2Schedule CO Individual
2008
OPTIONAL COMPUTATION OF TAX
Rev. 12.08
Taxable year beginning on ______________, _____ and ending on ______________, _____
Taxpayer's name
Social Security Number
Use this Schedule only if you choose the optional computation of tax for married individuals living together, filing a joint return and both working.
Wages, Commissions, Allowances and Tips
Wages, Commissions, Allowances and Tips
1.
16
A - Income Tax Withheld
B - TAXPAYER
C - SPOUSE
ATTACH ALL YOUR WITHHOLDING STATEMENTS
00
(Forms 499R-2/W-2PR, 499R-2c/W-2cPR or W-2, as applicable).
00
00
00
00
00
00
00
00
00
00
00
Total of withholding statements with this schedule ......................................
Total ........................................................................................................................
00
00
00
(01)
(03)
(30)
Federal Government Wages (See instructions)
.....................................................
2.
00
00
00
(04)
(02)
(31)
Other Income (or Losses):
3.
A)
00
00
Interest income (Schedule F Individual, Part I, line 10) (50% of the total to each spouse).................................
(05)
(32)
00
00
B)
Distributable share on special partnerships profits (Submit Schedule F Individual and Schedule R) ................
(06)
(33)
C)
00
00
Distributable share on special partnerships losses (Submit Schedule R) ..........................................................
(07)
(34)
D)
Dividends from corporations and distributions from partnerships subject to withholding (Schedule F Individual,
00
00
Part II, line 1A) (50% of the total to each spouse) ..........................................................................................
(08)
(35)
E)
Dividends from corporations and distributions from partnerships not subject to withholding (Schedule F
00
00
Individual, Part II, line 3B) (50% of the total to each spouse).........................................................................
(09)
(36)
00
00
F)
Distributable share on profits from corporations of individuals (Submit Schedule F Individual) .........................
(10)
(37)
00
00
G)
Distributions from Governmental Plans (Schedule F Individual, Part V, lines 1C and 1D) ..................................
(11)
(38)
H)
00
00
Miscellaneous income (Submit Schedule F Individual) (50% of the total to each spouse or as applicable. See inst.)
(12)
(39)
00
00
I)
Distributions from Individual Retirement Accounts and Educational Contribution Accounts (Submit Schedule F Individual)
(13)
(40)
J)
00
00
Dividends from Capital Investment or Tourism Fund (Submit Schedule Q1) (50% of the total to each spouse)..
(14)
(41)
00
00
K)
Income from annuities and pensions (Schedule H Individual, Part II, line 12) .................................................
(15)
(42)
00
L)
Alimony received (Payer's social security No. _________________________ )
.........................................
00
(17)
(16)
(43)
M)
00
00
Gain (or loss) from industry or business (Submit Schedule K Individual) ......................................................
(18)
(44)
00
00
N)
Gain (or loss) from farming (Submit Schedule L Individual) .........................................................................
(19)
(45)
O)
00
00
Gain (or loss) from professions and commissions (Submit Schedule M Individual) .......................................
(20)
(46)
00
00
P)
Gain (or loss) from rental business (Submit Schedule N Individual) (50% of the total to each spouse)..........
(21)
(47)
Q)
Gain (or loss) from sale or exchange of capital assets (Submit Schedule D Individual) (50% of the total to each
00
00
spouse) ................................................................................................................................................
(22)
(48)
00
R)
Qualified plans and Variable Annuity Contracts (Submit Schedule D Individual) ..........................................
00
(23)
(49)
S)
00
00
Net long-term capital gain on Investment Funds (Submit Schedule Q1) (50% of the total to each spouse) .....
(24)
(50)
00
00
Total Gross Income (Add lines 1, 2 and 3A through 3S, of Columns B and C, respectively) ...........................
4.
(25)
(51)
5.
Alimony Paid (Recipient's social security No. _________________________ )
(26)
00
00
(Judgment No. _______________)
..................................................................................................................
(28)
(27)
(52)
00
00
6.
Adjusted Gross Income (Subtract line 5 from line 4, of Columns B and C, respectively) ........................................
(29)
(53)
1,575
1,575
STANDARD DEDUCTION ....................................................................................................................................
7.
00
00
(01)
(19)
8. ITEMIZED DEDUCTIONS (See instructions):
17
A) Home mortgage interest
Employer
Name of entity to which payment was made Mortgage
Loan Number
Amount
Identification No.
(02)
(06)
Principal residence:
First
00
Second
(03)
(07)
00
(04)
(08)
Second residence:
First
00
(05)
(09)
Second
00
(10)
Loan Origination Fees (Points) Paid Directly by Borrower (See instructions) ..........................................
00
(11)
Loan Discounts (Points) Paid Directly by Borrower (See instructions) .....................................................
00
Total home mortgage interest paid ......................................................................................................
(12)
00
00
B)
License plates paid for automobiles used for personal purposes (See instructions) ........
(13)
00
C)
Child care expenses (See instructions. $1,500 - one child; $3,000 - two or more children)
(14)
00
D)
Expenses incurred in the care of elderly persons (See instructions) ................................
(15)
00
E)
Rent paid (Landlord's social security No. _________________________)
................
(17)
(16)
F)
00
Property tax on principal residence .................................................................................
(18)
Retention Period: Ten (10) years
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial