The Schedule E and Form 4835 tab is used to enter the amounts found on the Tax Return's Schedule E , Form 4835, and the FSP 1040 Supplement - Payments on Principal of the Purchase Price documents.
Different programs may use different entry lines. Enter information on each line that has a corresponding amount on the tax schedule. Budgeting rules will use the information entered to compute the countable income based on the rules for each program.
When previously entered tax information is displayed. Update by overlaying the information.
How Do I:
Add Partnership and Corporation Income
Messages:
SCHEDULE E -
SUPPLEMENTAL
INCOME AND LOSS
For Corporations or Partnerships CONTACT CENTRAL OFFICE STAFF
Enter response as a monthly amount in "Other Income -SE"
Part I - Depreciation/Depletion: Enter the amount from Line 20 on the Schedule E.
Total Rental and Realty Income (if only the first page is used): When there is a profit - enter the amount from Line 26 on the Schedule E in the first field. If there is a loss - enter the amount from Line 26 on the Schedule E in the second field. This field is not enabled if line 41 is entered.
Part V - Total Income (if both pages are used): When there is a profit - enter the amount from Line 41 on the Schedule E in the first field. If there is a loss - enter the amount from Line 41 on the Schedule E in the second field. This field is not enabled if line 26 is entered.
FORM 4835 Farm Rental Income and Expenses:
FSP 1040 Supplement - Payment on Principal of the Purchase Price: Enter the amount from the "Food Stamp Program tool FSP1040 Supplemental" found in the FSP Best Practices Log and completed by the self employed person . Self employment for tax year 2001 or earlier will not have this figure.
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NFO2BB33H(515)
07-09-07