I1864 Section 6 question 7

[naypersonna 16]

I really don’t want to mess this up

what Line of my 1040 do i put here? Or am

i supposed to calculate my anticipated income???(if so i just Started a new full time job) help please 

[Dashinka 24,508]

For current income, take your monthly income and multiply by 12.  You should also include an employment letter if you are relying on your current salary.

 

Good Luck!

[pushbrk 12,894]

5 minutes ago, Dashinka said:

For current income, take your monthly income and multiply by 12.  You should also include an employment letter if you are relying on your current salary.

 

Good Luck!

More accurately, your gross income for a full pay period times the number of pay periods in a full year going forward.  Most folks are paid every two weeks so times 26.  Unless you are self employed, in which case it's the total income line for 2020.

Edited July 11, 2021 by pushbrk

[naypersonna 16]

On 7/11/2021 at 7:00 AM, pushbrk said:

More accurately, your gross income for a full pay period times the number of pay periods in a full year going forward.  Most folks are paid every two weeks so times 26.  Unless you are self employed, in which case it's the total income line for 2020.

Ok so if i just started a job on the 21st and weekly i make 640 before deductions so from June 21-January 1st that’s 27 weeks so 640x27 is 17280 . & from January1-June21 i was on unemployment would i calculate That the same and add it to the 17k to get my annual? 
& should i attach an employment letter + a paystub? 

[pushbrk 12,894]

3 hours ago, naypersonna said:

Ok so if i just started a job on the 21st and weekly i make 640 before deductions so from June 21-January 1st that’s 27 weeks so 640x27 is 17280 . & from January1-June21 i was on unemployment would i calculate That the same and add it to the 17k to get my annual? 
& should i attach an employment letter + a paystub? 

No.  I said a full year, not the rest of this year.  The question is not what is your current year income.  It's "Current Income".  Multiply your 640 by 52 weeks.  That is your current income.

[naypersonna 16]

On 7/12/2021 at 6:50 PM, pushbrk said:

No.  I said a full year, not the rest of this year.  The question is not what is your current year income.  It's "Current Income".  Multiply your 640 by 52 weeks.  That is your current income.

Ok I’m using a households members income as well . But their hours vary between 40-50 hours per week how do i go about calculating?? 

[pushbrk 12,894]

2 hours ago, naypersonna said:

Ok I’m using a households members income as well . But their hours vary between 40-50 hours per week how do i go about calculating?? 

The hourly rate times 2080.  (40X52=2080)