Question

When reviewing Form 13614-C, you see the "Interest" question is marked "Yes" and the taxpayer gives you a Form 1099-INT.What should you do next?a. Input Form 1099-INT into tax softwareb. Go to the next question on Form 13614-Cc. Ask the taxpayer if they had any other interest income

Answer 1

When reviewing Form 13614-C and seeing the 'Interest' question marked 'Yes' with the taxpayer providing a Form 1099-INT, you should ask about other interest income, input the Form 1099-INT into the tax software, and then move to the next question on the form.

Step-by-step explanation:

When reviewing Form 13614-C, the first step to take when the 'Interest' question is marked 'Yes' and the taxpayer provides a Form 1099-INT is to ask the taxpayer if they had any other interest income. This is important because the taxpayer may have received interest income from sources other than the one mentioned on the Form 1099-INT.

After asking about other interest income, the next step would be to input the Form 1099-INT into the tax software. This ensures that the interest income is properly included in the taxpayer's overall tax calculation.

Only after inputting the Form 1099-INT into the tax software, you can then proceed to the next question on Form 13614-C.

Answer 2

When reviewing Form 13614-C, you see the “Interest” question is marked “Yes” and the taxpayer gives you a Form 1099-INT. Then i should Ask the taxpayer if they had any other interest income.

Option C

Step-by-step explanation:

The acquisition and understanding of all relevant taxpayer information is one of the major challenges for tax preparedness. The primary tool to collect the information is Form 13614-C. This information can be interpreted in a conversation with the taxpayer.

A preparer who guarantees that each section of Form 13614-C is completed and that all applications are recognized is ready for the filing of a full tax return. Remember that it's not enough to just have someone complete the document.

Just as significant, it is likely that the responses with the taxpayer are answered. Consider the Form 13614-C as the starting point for a significant taxpayer interview.