Overview › Area
Tax computation
AGI to total tax: regular tax, AMT, NIIT, credits.
Preparer Priya Raman · due 2026-03-27
Reviewer Daniel Ortiz · due 2026-04-08
Partner Helen Strand
Time 0 of 1.0 h budget
Federal: income to total tax
Total income F1040.9
− adjustments F1040.10
Adjusted gross income F1040.11
− itemized deductions F1040.12
− QBI deduction F1040.13
Taxable income F1040.15
Tax (Schedule D worksheet) F1040.16
+ AMT (Form 6251) F1040.17
− child / dependent credits F1040.19
− other credits (foreign tax) F1040.20
Tax after credits F1040.22
+ self-employment tax Sch2.4
+ additional Medicare tax Sch2.11
+ net investment income tax Sch2.12
Total tax F1040.24
− payments F1040.33
Amount owed F1040.37
+ estimated tax penalty F1040.38
AMT
Taxable income 346,913 + taxes added back 40,000 + ISO 40,000 = AMTI 426,913 − exemption 137,000 → tentative minimum tax 63,202 vs regular tax less FTC 59,331 → AMT 3,871. Carryover: minimum tax credit 3,871 (engine).
Carryovers
| Item | In from 2024 | Out to 2026 (engine v3) |
|---|---|---|
| capital loss short | 3,200 | 0 |
| capital loss long | 11,000 | 0 |
| passive 1450 fremont | 6,300 | 0 |
| passive 1200 barton hills | 9,850 | 0 |
| IRA basis (Ngozi) | 7,000 | 0 |
| Minimum tax credit | 0 | 3,871 |
| S corp stock basis (end) | — | 0 |
| Ridgeline capital account (end) | 60,000 | 63,660 |
| SEP contribution not deductible for 2025 | — | 2,786 |
California: capital loss 0, passive 0; depreciation basis differences SAC-APPL 241.92, STU-PRINTER 11,360, STU-CAMERA 13,040, STU-WORKST 6,000.
Checks that don't trust the engine (2)
CAPLOSS-CARRY · Tax computation
Capital loss carryovers recomputed from 2024
Agrees
Short 3,200, long 11,000 - agree to the prior preparer's worksheet (D07 p6) and SchD.6/14.
Engine (3200, 11000) · recomputed (3200, 11000)
How: 2024 short-term -6,200, long-term -11,000, allowed 3,000 (short-term first).
FOOTING · Tax computation
Return foots and cross-foots
Agrees
Every total re-adds.
How: Re-added the main lines of Form 1040, Schedule C and Form 540NR from their inputs.
Documents (0)
Every line in this area (31)
Show all 31 lines
| Sch1.10 | Additional income | 70,024 | |
| Sch1.26 | Adjustments to income | 35,397 | |
| F1040.8 | Additional income from Schedule 1 | 70,024 | |
| F1040.9 | Total income | 480,987 | |
| F1040.10 | Adjustments to income | 35,397 | |
| F1040.11 | Adjusted gross income | 445,590 | |
| F1040.15 | Taxable income | 346,913 | |
| F1040.16 | Tax (Schedule D tax worksheet) | 59,727 | |
| F6251.1 | Taxable income (1040 line 11 minus line 14) | 346,913 | |
| F6251.2a | Taxes from Schedule A line 7 | 40,000 | |
| F6251.4 | Alternative minimum taxable income | 426,913 | |
| F6251.5 | Exemption | 137,000 | |
| F6251.6 | AMTI minus exemption | 289,913 | |
| F6251.7 | Tentative minimum tax before credit | 63,598 | |
| F6251.8 | AMT foreign tax credit | 396 | |
| F6251.9 | Tentative minimum tax | 63,202 | |
| F6251.10 | Regular tax minus foreign tax credit | 59,331 | |
| F6251.11 | Alternative minimum tax | 3,871 | |
| Sch2.1 | Alternative minimum tax | 3,871 | |
| Sch2.3 | Total (Part I) | 3,871 | |
| F1040.17 | Amount from Schedule 2, line 3 | 3,871 | |
| F1040.18 | Add lines 16 and 17 | 63,598 | |
| Sch3.8 | Total nonrefundable credits (Part I) | 396 | |
| F1040.20 | Amount from Schedule 3, line 8 | 396 | |
| F1040.22 | Tax after nonrefundable credits | 62,802 | |
| Sch2.4 | Self-employment tax | 11,565 | |
| Sch2.11 | Additional Medicare tax | 500 | |
| Sch2.12 | Net investment income tax | 7,095 | |
| Sch2.21 | Total other taxes | 19,160 | |
| F1040.23 | Other taxes from Schedule 2, line 21 | 19,160 | |
| F1040.24 | Total tax | 81,962 |
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