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Video instructions and help with filling out and completing Why Form 4797 Refunds

Instructions and Help about Why Form 4797 Refunds

In this short video I want to go over some of the differences between reporting income on the Hawaii income tax return as compared to the federal US income tax return the first dollar amount entered on the Hawaii and eleven form is really on page two here let's zoom in on the first dollar amount which is going to be the federal adjusted gross income you pretty much have to complete your federal return before you can complete your Hawaii return looking at the federal return the income all should be reported here and some of the deductions here called adjustments subtracted from the gross income to get the AGI they adjust the gross income for federal here at the bottom of the 1040 form and you would rewrite it here in line 7 of page 2 up to n 11 now not all of the income and deduction rules are the same comparing Hawaii and u.s. tax laws so here in this part right here we're going to increase the federal adjusted gross income for income that's taxable to Hawaii but not taxable on the federal return for example if you're a federal civil service worker here in Hawaii or maybe in Alaska you know that the cost of living is much higher as compared to the regular mainland states so those federal workers get something called a cost-of-living allowance and it's a tax-free benefit only for federal income taxes so if that Cola allowance is not included in the federal aid but it is taxable for Hawaii so when you look at your w-2 form or your year-end pay stub for federal workers civil service workers now you're gonna see probably a cola or t Cola allowance amount and you have to add that in here in...

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