BNA INCOME TAX™ PLANNER - Bloomberg BNA · PDF fileprograms and materials subsequently...

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  • Tutorial.book Page i Thursday, October 29, 2015 8:26 AM

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    BNA INCOME TAX PLANNER

    TUTORIAL

    Version 2015.2November 2015

    byKENNETH S. COHENNew York University (B.S., Public Accounting, 1964)The Harvard Law School (LL.B., 1968)Admitted to Ohio Bar 1969 (Inactive)

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    Tutorial.book Page ii Thursday, October 29, 2015 8:26 AM

    1994-2015 BNA Software, a division of Tax Management Inc.,Arlington, VA 22202. All rights reserved.

    ISSN: 2169-8772

    BNA and BNA Income Tax are either registered trademarks or trade-marks of The Bureau of National Affairs, Inc.

    Subject to the terms and conditions of the BNA Software License Agreement.

    This publication is designed to provide accurate and authoritative infor-mation in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting or other professional service. If legal or accounting advice or other expert assistance is required, the services of a competent profes-sional should be sought. The program material contained in Bloomberg BNAs BNA Income Tax Planner software and manuals are supplied without representation or warranty of any kind. Tax Management Inc. and the author, therefore, assume no responsibility and shall have no liability, consequential or otherwise, of any kind arising from the use of the program software, manuals, any part thereof, or any supplementary programs and materials subsequently issued by Bloomberg BNA.

    Duplication of this manual supplement, in part or in whole, is prohibited without express permission of Bloomberg BNA.

    Printed in the United States of America

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    Tutorial.book Page iii Thursday, October 29, 2015 8:26 AM

    CONTENTS

    Introduction ........................................................................................................................ 5How to Use the Tutorial ................................................................................. 5Getting Additional Help .................................................................................. 6Before You Start ............................................................................................ 6

    Navigating the Workspace ........................................................................ 6Using the Mouse .................................................................................. 6Using the Keyboard .............................................................................. 7

    Accessing Worksheets ............................................................................. 8Input vs. Calculated Rows ........................................................................ 9Using Menus ............................................................................................. 9Changing Entries ...................................................................................... 9Using the Help System ............................................................................. 9

    Accessing Help for the Current Row .................................................... 9Accessing Other Help Messages ....................................................... 10Other Help Features ........................................................................... 10

    Input Methods ......................................................................................... 10Startup .................................................................................................... 11Other Helpful Resources ........................................................................ 12

    Operations Guide ............................................................................... 12Tax Reference Guide ......................................................................... 12

    Worksheet Status ................................................................................... 13Correcting Entry Errors ........................................................................... 13Leaving and Closing Worksheets ........................................................... 13

    Scenario 1: Years w/n Cases, Security Transaction Analyzer, Print & Save ............... 15Facts ............................................................................................................ 15Running the Scenario .................................................................................. 16

    Assumptions Dialog ................................................................................ 16Main Worksheet ...................................................................................... 20

    Filing Status ........................................................................................ 21Auto Copy Within A Case ................................................................... 21Ordinary Income Worksheet ............................................................... 22

    Wages Worksheet .................................................................................. 22Dependent Care Exclusion & Credit Worksheet ..................................... 23Sorting the Worksheet List ...................................................................... 24

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    Tutorial.book Page iv Thursday, October 29, 2015 8:26 AM

    Viewing Multiple Worksheets Simultaneously ........................................ 24Title Bars ............................................................................................ 27The Escape Commands ..................................................................... 27

    Interest and Dividends Worksheet .......................................................... 27IRA Deductions Worksheet ..................................................................... 30Leaving Worksheets: Closing, Minimizing, Leaving Open ...................... 32Security Transaction Analyzer Worksheet .............................................. 33Itemized Deductions Worksheet ............................................................. 36Alternative Minimum Tax Worksheet ...................................................... 38Child Tax Credit Worksheet .................................................................... 40Completing the Main Worksheet ............................................................. 42State Estimated and Withholding Worksheet ......................................... 42Resident State Estimated & Withholding Payments Worksheet ............. 43Saving Client Data .................................................................................. 47Printing the Results (A Formatted Report) .............................................. 48

    Scenario 2: Sale of Stock, Present Value & Graph ........................................................ 51Facts ........................................................................................................... 51Running the Scenario .................................................................................. 51

    Assumptions Dialog ................................................................................ 51Capital Gains and Losses Worksheet ..................................................... 53Present Value Worksheet ....................................................................... 54Using the Graph ...................................................................................... 56Printing the Graph ................................................................................... 60Clearing the Worksheets and Starting a New File .................................. 60

    Scenario 3: Cases w/n Years, Individual Activities & Client Letter .............................. 61Facts ........................................................................................................... 61Running the Scenario .................................................................................. 62

    Deactivating the State Tax Worksheet ................................................... 62Assumptions Dialog ................................................................................ 62Main Worksheet ...................................................................................... 64Ordinary Income Worksheet ................................................................... 64Individual Activity Worksheets ................................................................ 65Itemized Deductions Worksheet ............................................................. 74Saving the File ........................................................................................ 75Client Letter ............................................................................................ 76

    Main Tool Bar ..................................................................................... 76Client Letter Tool Bars ....................................................................... 76Linking Data from Worksheets ........................................................... 80Print Preview ........