Form 700: Common Questions and Errors

The most common questions and filing errors are addressed below. Please contact if you need additional assistance.

  1. Report your spouse’s interests. Your spouse’s investments and interests in real property are reportable. Fifty percent of your spouse’s income is considered your income and must be disclosed.
  2. University salary or reimbursements. You are not required to report the salary or reimbursements for expenses, including travel expenses, that you receive from the University.
  3. Don’t report personal residences. You need only to report the portion of a personal residence that is used as a place of business for tax purposes.
  4. Diversified mutual funds are not reportable. Neither are bank accounts, savings accounts, insurance policies or government bonds.
  5. Use the schedules. Don’t attach brokerage statements or other extraneous information.
  6. Annual Form 700 is due April 2, 2018. There is no provision in the law for extensions of filing deadlines.