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11-Day Returning Counselor Training 2013
One Day Returning Counselor Training
INCOME
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AARP FOUNDATION TAX-AIDE
TWO/TRAININGhttps://twonline.taxwise.com/training11 TW 2011 Brown background
https://twonline.taxwise.com/training TW 2012 Green background
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LOG IN – FIRST TIME
Use Internet ExplorerCheck your Caps Lock!
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LOG IN – FIRST TIME
You’ll be prompted to change your password
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Make your password easy to remember - write it down
LOG IN – FIRST TIME
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LOG IN – FIRST TIME
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If you try twice to log in and do not succeed: STOP
Use “Reset Password” It will ask your security
question You will then be asked to set
up a new password
LOG IN FAILURE
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TWO/TRAINING HOMEPAGE
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TAXWISE RIBBON
Open existing return
New return
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START A NEW RETURN
Use the SSN / EIN numbering rules!
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OPEN AN EXISTING RETURN
Click “Go to Tax Forms”
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TWO SCREEN
Active form
Ribbon
Form tree
Refund monitor
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TWO SCREEN
Set your IE View-Zoom to 100%
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FORMS TREE
+ Add a form
× Delete a form
Ok to not use all forms in tree
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FORMS TREE
Yellow exclamation mark - Form is incomplete
Green check mark - Form is complete
Blank - Form available in Tree, but not necessarily required
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ADD A FORM
Show all formsVery long listUse scroll bar
Type in form #
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FIELD LINK ICON
Linking is accomplished by clicking on the icon to the right of the field and clicking on an existing or new form/scratch pad, as applicable
Toggle estimate clears the redAlso calculator and help
Form
Toggle Estimate
Calculator
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LINKING TO A FORM OR SCRATCH PAD
Open an existing form / scratch padOpen a new form / scratch pad
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BASIC TWO RULES
Enter all dates in the format mmddyyyyAmounts can be entered with or without
centsDo not use
any punctuation (only hyphens in names allowed)
double spaces dashes
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See Page 2-3
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If qualified foreign taxes are included in the broker statement ($300, $600 MFJ) link from 1040 line 47 to Form 1116 and enter in [Simplified Limitation Election] section.
See Page 2-6
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See Pages 2-8, 2-9
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2012 Capital Gains Worksheet
See Pages 2-10 to 2-15
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ROYALTIESTab 2
Royalties in-scope if from a K-1 or on a 1099-MISC from a gas/oil lease or similar
From Form 1040, line 17, link to Sch E Enter “6” as code type for Royalties For K-1, list “[Company Name] K1” on C
and enter amount for “Royalties Received” in line 3b (transfers to line 4)
For 1099-MISC, link and complete
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Sch E Pg 1
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1040 Wkt1
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New TWO Form (Wkt7)
1040 Line 21 Other Income
New Worksheet for reporting Miscellaneous Income
Includes 16 additional income lines
New diagnostics will be added Income from another form
auto-populates the worksheet with amount and type
1099-Misc income link to worksheet then to
1099M.
April 21, 2023 - USA
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QUESTIONS???
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