F1040-071-05
IRS Explanation
Form 1040, ‘WithholdingTaxAmt’ must be less than the sum of the following: [‘WagesSalariesAndTipsAmt’ and ‘TaxableInterestAmt’ and ‘OrdinaryDividendsAmt’ and (‘IRADistributionsAmt’ or ‘TaxableIRAAmt’) and ( ‘PensionsAnnuitiesAmt’ or ‘TotalTaxablePensionsAmt’ ) and ‘SocSecBnftAmt’ and Schedule 1 (Form 1040), ‘UnemploymentCompAmt’ and ( all ‘OtherIncomeAmt’ in [OtherIncomeTypeStatement] ) and ( all Schedule C (Form 1040), ‘TotalGrossReceiptsAmt’ )] unless one of the following is true: (1) Form 1040, ‘CapitalGainLossAmt’ has a non-zero value; (2) Schedule 1 (Form 1040),
‘OtherGainLossAmt’ or ‘RentalRealEstateIncomeLossAmt’ or ‘NetFarmProfitLossAmt’ has a non- zero value; (3) Combat Pay has been excluded from wages.
Issue
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Solution
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