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The G UNDER G AP IN HO USING R ETURNSSeptember 3, 2019AbstractHousing wealth represents the dominant form of retirement savings for most American households. Using detailed data on housing transactions
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Americans are required to report their income and assets to the government for tax purposes.
All American citizens and residents are required to file their income and asset information with the government.
Individuals can fill out their income and asset information using tax forms provided by the government, such as the 1040 form.
The purpose of reporting income and assets is to ensure that individuals are paying the correct amount of taxes owed to the government.
Income sources, deductions, assets, and any other financial information that may impact an individual's tax liability must be reported.
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