Welcome!

Welcome to the Adjustments to Income lesson. This lesson is designed to teach tax preparers about several adjustments to income for bona fide residents of Puerto Rico with exempt income under IRC Section 933.

Forms referenced in this lesson include:

• Form 13614-C, Intake/Interview & Quality Review Sheet
• Form 1040, U.S. Individual Income Tax Return

You can also refer to the following:

• Publication 4696, VITA/TCE Puerto Rico Resource Guide for helpful tips on preparing tax returns
• Publication 4012, VITA/TCE Volunteer Resource Guide for helpful tips on preparing tax returns

NOTE: In this lesson, you'll be asked to calculate answers for practice questions. You may want to have a calculator on hand for assistance.