1040-US: Tax Projection Worksheet overview

Alerts and notices

Question

How does the Tax Projection Worksheet project next year's income and what do I need to do on this screen?

Answer

The Tax Projection Worksheet carries forward a taxpayer's 2018 return data and recalculates income based on next year's law. In Screen TPW in the Review folder, enter data only for items that you know will differ from current year amounts. Note that some items will not default to current year values because they are usually different from year to year. (For example, capital gains and moving expenses.) These items are denoted with an asterisk (*) next to the applicable field on this screen.

To default asterisk (*) fields to current-year amounts on an individual client basis, mark the Default asterisk (*) fields to current year amounts checkbox on Screen TPW. To default asterisk (*) fields on a global basis, choose Setup > 1040 > Other Return Options > Other tab and mark the Default TPW * fields to current year amounts checkbox.