Form Ia 6251b - Balance Sheet/statement Of Net Worth Page 2
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2IA 6251B Instructions
Complete each section as follows. Be sure to
Line 8: Machinery and Equipment
include the personal and business assets and
Include the market value of all machinery and
liabilities of both spouses. IA 6251B should be
equipment.
completed by those eliminating the distressed
Line 9: Vehicles
sale transaction from net income and those
Include the current retail value of all vehicles.
limiting their tax liability to their net worth.
Include all cars, trucks, recreational vehicles,
NOTE: The balance sheet should be completed
motorcycles, etc.
on the basis of the accounting method (cash or
Line 10: Other Personal Property
accrual) used by the taxpayer.
Include the following:
•
current market value of all household
Part A: Assets
Line 1: Total Cash
appliances,
such
as
washer,
dryer,
Include the balance of your cash accounts,
refrigerator, television, stereo, stove, etc.
both personal and business, such as:
•
current market value of all furniture, such
•
checking accounts
as beds, dressers, sofa, chairs, dining
•
savings accounts
room set, antiques, etc.
•
certificate of deposit accounts
•
current market value of all kitchen items,
•
credit union accounts
such as silverware, coffee maker, china,
pots and pans, etc.
Line 2: Securities
•
current
market
value
of
all
other
Include the current value of all your stocks,
household items,
such
as
paintings,
bonds, notes, etc.
pictures, musical instruments, firearms,
Line 3: Pensions, IRAs, and Social Security
jewelry, collectibles, etc.
Benefits
Part B: Liabilities
Include the current value of the following:
Line 12: Current Liabilities
•
pensions
Include the current balance of all your accounts
•
annuities
owed, both personal and business, such as:
•
individual retirement accounts
•
bank card account balances
•
Social Security benefits
•
gasoline credit card balances
•
Railroad Retirement benefits
•
other charge card balances
Line 4: Insurance Policies
•
other credit or installment balances
Include the current value of all life insurance
•
total of any loans (insurance loans,
policies.
vehicle loans, loans for seed, fertilizer,
supplies, etc.)
Line 5: Accounts Receivable
•
charges for dental or medical care
Include the total of any money due to you, both
personal and business.
Line 13: Long-Term Liabilities
Include the following:
Line 6: Inventory, Crops, and Livestock
•
real estate transactions
Include the market value of all your inventory,
•
mortgages
crops, livestock, other farm animals, and poultry.
•
installment obligations
Line 7: Real Property
•
long-term loans (over one year)
Include the market value of any real estate, both
personal and business.
41-135b (09/16/15)
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